PA Sports sells stake in Sportal Australia

Posted by Oliver Luft on 13 August 2009 at 11:05
Tags: Media Business, Mobile, New Media, Online

PA Sport has sold its 33 per cent stake in Sportal Australia, the sports news and video-on-demand site, to British digital sports rights distributor Perform for an undisclosed sum.

Perform has assumed a total controlling interest of 66 per cent with an option of buying the remaining third of the business.

Disposal of it holding in Sportal is its latest business sell-off by the Press Association, owners of PA Sport, which downgraded the value of assets and goodwill associated with its sport business by £8.8m in May.

The company had attempted to sell its PA Sports subsidiary but in June last year decided to retain the business and attempt to refocus it as a global provider of UK sports information.

As a result, in March this year PA Sport sold its American sports data business PA SportsTicker.

Tags: Media Business, Mobile, New Media, Online