Setanta Sport is to sell its North American Sports Network (NASN) to sports entertainment group ESPN for a sum believed to be between €80 million and €90 million.
ESPN and Benchmark Capital Europe said today they had agreed the deal with Setanta Sport Holdings.
Terms of the agreement were not disclosed, although a source close to the deal told Reutersnews agency NASN was being sold for €80 million to €90 million, including debt assumption.
The deal is expected to close early next year subject to regulatory approvals.
ESPN is 80 per cent owned by ABC,which in turn is owned by the Walt Disney Company.
NASN, founded in 2002, is a pan-European sports network owned by Ireland's Setanta Sport Holdings and venture capital group Benchmark Capital Europe.