Setanta Sports Holdings and Benchmark Capital Europe have agreed to sell their North American Sports Network to US sports entertainment group ESPN.
Terms of the agreement were not disclosed, although a source close to the deal said that NASN was being sold for between €80-90m, including debt.
The deal is expected to close early next year - subject to regulatory approvals.
'Growing our business in Europe is a key strategic initiative for us,' said Russell Wolff, managing director of ESPN International. 'We expect NASN, which has performed well and created a unique market position, to be a strong addition to our portfolio, ' he added.
ESPN is 80% owned by ABC, which in turn is owned by the Walt Disney Company.
