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Our Bureau

Print, mobile service arm part of deal

Bangalore June 11 ESPN Inc has acquired Bangalore-headquartered Cricinfo from the Wisden group.

Both ESPN and the Wisden Group have agreed on the terms for ESPN's acquisition of Cricinfo, a Web site popular among cricket aficionados.

The acquisition enhances ESPN's online portfolio, which includes ESPN.com — the US's premier online sports destination, ESPNdeportes.com — the Spanish-language sports Web site among Spanish-preferred fans in the US, and ESPNsoccernet.com — the world's leading English-language football Web site. The deal also involves acquisition of Cricinfo's print magazine and mobile services division.

According to a press release quoting Mr Russell Wolff, Managing Director of ESPN International: "Growing our business in the online world is vital for us to serve sports fans. Cricinfo is a tremendous property with a great fan base and it will be a strong addition to ESPN."

Tapping potential

The release also quoted The Wisden Group Director, Mr Mark Getty. He said: "Cricinfo has developed into a significant cricket brand in its own right, combining huge global popularity with strong commercial success. ESPN is a major sports broadcaster and international rights holder and will provide the perfect environment for Cricinfo to further realise its enormous potential. The Wisden Group will continue to focus on its Hawk-Eye sports technology business in cricket, tennis and a growing range of other sports."

According to Mr Tom Gleeson, Managing Director of Cricinfo: "We have had a strong working relationship with ESPN for a number of years and we know how successful they are in providing innovative online sports content. We look forward to working with the ESPN team and drawing on its expertise in sports marketing and digital media."

ESPN's digital media properties span the Web (through sites such as espn.com), mobile (across the wireless Web sports site mobile.espn.com) and radio (online sports radio destination ESPNRadio.com), apart from sports video games.

Business range

Cricinfo, till now part of the Wisden group, recently shifted headquarters from London to Bangalore.

ESPN Inc is a leading multinational, multimedia sports entertainment company featuring a portfolio of over 50 multimedia sports assets. Based in Bristol, Connecticut, ESPN is 80 per cent owned by ABC Inc, which is an indirect subsidiary of the Walt Disney Company. The Hearst Corporation holds a 20 per cent interest in ESPN.

More Stories on : Sports | Mergers & Acquisitions | Internet

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