Venture capital firm Benchmark Capital has acquired a 50 per cent stake in television channel NASN (North American Sports Network).
While the financial details of the deal were not disclosed, it is understood Benchmark paid in the region of €20m for the stake.
The deal follows a shareholder restructuring whereby Setanta Sport acquired co-founding investor Vulcan European Media Holdings' 70 per cent stake in the channel.
Following the sale to Benchmark, Setanta Sport now holds a 50 per cent stake in NASN.
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NASN was launched in the UK and Ireland in December 2002 and broadcasts mainly North American sports. The available on the Sky, NTL and Telewest platform