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This question is about ESPN.
The Walt Disney Company owns ESPN, with 80% of the company. Hearst Communications owns the other 20% of ESPN. Bill Rasmussen developed the concept of ESPN in 1978. Getty Oil bought 85% of the company in 1979 so ESPN could fund the building of their headquarters in Bristol, Connecticut.
The first program broadcast on ESPN was Sportscenter, which would become the channel's flagship show. In 1984, the American Broadcasting Company (ABC) purchased 100% of ESPN from Bill Rasmussen and Getty Oil.
Before ABC's purchase, major sports leagues, including the NFL, NBA, and MLB, refused to consider cable as an acceptable outlet to broadcast their games. But with the backing of ABC, ESPN gained the ability to compete for major sports contracts.
Then in 1985, ownership of ABC, and thus control of ESPN, went to Capital Cities Communications when it acquired ABC. When this happened, Capital Cities Communications renamed itself Capital Cities/ABC Inc.
The Walt Disney Company acquired Capital Cities/ABC Inc. in 1996, assuming control of ESPN. Over the years, ESPN has branched off into many different divisions and currently boasts these networks:
ESPN+
ESPN2
ESPN3
ESPNews
ESPNU
ESPNW
ESPN Deportes
ESPN College Extra
Longhorn Network
SEC Network
ACC Network
Big 12 Network
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