Cuban Sells Majority Stake In HDNet To Anthem Sports & Entertainment

Mark Cuban has sold his majority stake in his media company HDNet LLC -- home of network AXS TV and HDNet Movies -- to Anthem Sports & Entertainment.

Financial terms were not disclosed.

Cuban and AEG Global Partnerships, which works with HDNet channels in advertising and sponsorship deals, will continue to have equity in the operation.

As part of the deal, talk show/reality TV host and producer Steve Harvey has struck a strategic agreement with Anthem and its channels. Steve Harvey Global will have a seat on the board of directors of Anthem.

The deal also includes AXS TV's extensive library of owned programming, including wrestling, MMA and entertainment content.

In 2012, Cuban sold equity stakes in HDNet to AEG, Ryan Seacrest Media and Creative Artists Agency (CAA).

In addition, the channel called HDNet was rebranded AXS TV, focusing on live music programming and sports.

Anthem sports and entertainment programming is available in 120 countries.

With the deal, Anthem says its channels are estimated to reach nearly 150 million global TV homes, including more than 110 million pay TV homes in the U.S. and Canada.



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