By Dwight Oestricher Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Walt Disney Co.'s (DIS) ESPN division has acquired the
rest of the ESPN Classic Sport network in Europe from private investment firm
Terms of the deal weren't disclosed.
ESPN owned 70% of ESPN Classic Sports and Falconhead owned 30% of the European sports channel seen in 40 countries throughout Europe, including France and Italy.
ESPN Classic Sport was formed in 2001 through a partnership of ESPN, and Falconhead, then known as Sports Capital Partners, had an option to sell back its share to ESPN.
The private New York investment firm invests in media, leisure and lifestyle-related businesses with the intention of exiting through a sale or merger to benefit investors in its fund, a Falconhead spokesman said Tuesday.
Calls to ESPN weren't immediately returned.
Falconhead Capital Chairman and Chief Executive David Moross said the firm was "pleased with the progress of ESPN Classic Sports since the first channels were launched in 2002." He added in a statement Tuesday that ESPN Classic Sport has a bright future.
There is the chance that Falconhead might partner with ESPN again given the success of ESPN Classic Sport, the spokesman said.
-By Dwight Oestricher, Dow Jones Newswires; 201-938-5266;