News Corp to buy out ESPN from ESPN Star Sports

News Corp and ESPN on Wednesday announced an agreement under which a unit of the $61 billion global media company will buy the latter's 50 per cent equity stake in ESPN STAR Sports (ESS).The transaction will allow News Corp units to own and operate all of the ESS businesses while providing ESPN more independence and flexibility in future support of The Walt Disney Company's overall efforts in Asia, a media release said."News Corp's a...