XFMedia buys a stake in All Sports Network

Hong Kong- XFMedia has invested $US2 million in All Sports Network (ASN), with U.S. sports coverage scheduled to be aired on Hong Kong-based Yes TV this month.

Yes TV owns TVB Pay Vision network, which operates the soccer channels GOALTV1 and GOALTV2 on now TV.

XFMedia now owns 15.5% stake in ASN and has been granted exclusive distribution rights to broadcast North America's sports content including National Hockey League, National Football League and NCAA basketball.

Thomas Kressner (pictured), CEO of Yes TV, said there will be significant and growing demand for sports content in all major markets, especially in China.

Fredy Bush, CEO of XFMedia, said international sports content is one of the top commercial opportunities in the China media field today.

"It is a very efficient way to make contact with the upwardly mobile and high net worth demographic that is at the heart of XFMedia's strategy."