News Corp to buy ESPN Star Sports

The Financial Express was first to report the development in its edition dated February 28.

The transaction is subject to customary regulatory approvals and ESS will continue to be jointly managed by the two companies until the transaction closes,News Corp said in a statement.

After 16 years jointly managing ESS,we have decided to independently pursue future opportunities in Asia, said John Skipper,president of ESPN and co-chairman.

Disney Media Networks. News Corp and ESPN also announced that Manu Sawhney,MD of ESS, will transition his role of MD to Peter Hutton ,currently SVP of Sports for FOX International Channels,by August 31. Hutton will report to the ESS board.

Hutton joined FOX International Channels Sports in 2011 after 20 years in the international sports television business. He previously worked at Broad Reach Media,a media consultancy firm. Hutton will be relocating to Singapore with his family.