Fox Sells Golf Channel to Comcast
May 24, 2001, 12:00 AM
Fox Cable Networks Group, a division of Fox Entertainment Group, Inc., has agreed to sell its minority interest in The Golf Channel to Comcast Corporation for undisclosed cash consideration. In a separate transaction, Fox Cable Networks has agreed to sell to Comcast its interests in Outdoor Life Network for undisclosed consideration upon consummation of Fox Cable Networks' purchase of the interests currently held by AT&T Corporation, Cox Communications and Roger Werner. Fox Cable Networks anticipates that the cash proceeds from these transactions will fully finance its acquisition of the interests in Speedvision Network currently held by AT&T, Cox, Werner and Daniels Properties.