Fox/Liberty in Rainbow Sports pact

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Fox/Liberty Networks agreed to acquire 40% of Rainbow Sports, a division of Rainbow Media Holdings, for $850 million. The deal means one marketer, Fox Sports Net, will distribute 17 regional networks (nine Fox/Liberty channels and eight Rainbow channels). A major driver of the deal, company executives said, is the opportunity advertisers will now have to buy all 17 channels in a one-stop, unwired buy.

Copyright June 1997, Crain Communications Inc.

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