Mark Cuban Sells Majority Stake in HDNet

Sep 10, 2019  •  Post A Comment

A majority stake in Mark Cuban’s HDNet, the parent company of U.S. TV networks AXS TV and HDNet Movies, was purchased by Canada-based Anthem Sports & Entertainment and entertainer Steve Harvey, according to The Hollywood Reporter.

Terms of the deal were not disclosed.

“Anthem Sports, led by CEO Leonard Asper, a former head of Canadian broadcaster CanWest Global Communications Corp., will take over management of the TV networks offering music, sports, entertainment and lifestyle content,” THR reports. “As an investor, Harvey is also striking a strategic agreement for content development and promotion of Anthem’s portfolio of channels.”

The report notes that Cuban and AEG will continue as equity partners in the new partnership, while AEG Global Partnerships, AEG’s advertising and sponsorship sales unit, will continue to support the channels alongside Anthem’s sales team.

“The deal includes AXS TV’s library of wrestling, MMA and entertainment content, which will mesh with Anthem Sports stable of combat sport offerings like Fight Network and Impact Wrestling,” THR notes.

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