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Company Town | Deals

May 10, 1996|SALLIE HOFMEISTER

* Television: Tele-Communications Inc. will buy a 7.5% stake in Star TV from News Corp. as part of the previously announced sports programming joint venture between TCI and News Corp., which the companies closed Thursday. Analysts say Star TV, the Asian satellite television business that reaches 220 million people, is losing $100 million a year and will not make money for at least four more years. They estimated the value of the 7.5% interest at about $70 million. As part of the joint venture, News Corp. is contributing $350 million in cash and its fX cable network, and Liberty Media, a division of TCI, will contribute its regional sports networks, which include Prime Sports. fX, which has 26 million subscribers, will begin airing sports in addition to entertainment. Internationally, News Corp. and a 50-50 joint venture between Liberty and TCI International, which is 82% owned by TCI, will operate existing sports services in Australia and Latin America and launch new channels in Latin America, Europe and Africa.

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