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ESPN Takes Stake in NBA China

Jan 14, 2008  •  Post A Comment

ESPN, a division of the Walt Disney Co., has acquired a stake in NBA China, a new entity that will conduct all of the National Basketball Association’s business in China.
ESPN was one of five partners that spent $263 million for 11% of NBC China. The others are Bank of China Group Investment, Legend Holdings, the Li Ka Shing Foundation and China Merchants Investments.
“The expertise, resources and shared vision of these immensely successful companies will help us to achieve the potential we see in the region,” said NBA Commissioner David Stern. “The strategic investment from these companies will allow us to continue working with the Ministry of Sport and the Chinese Basketball Association to grow our sport and emphasize, in both rural and urban Chinese communities, its contributions to fitness, healthy lifestyle and an appreciation of teamwork.”
“We are delighted to be participating in this promising venture in what’s become one of the Walt Disney Co.’ most important markets,” said Robert Iger, Disney’s president and CEO. “This investment adds to our wide range of exciting businesses in China, from theme parks to retail outlets and from movie-making to mobile games.”
“This strategic investment expands our relationship with the NBA, a key partner who shares our vision of serving fans worldwide,” said George Bodenheimer, president of ESPN.

5 Comments

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