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CBS Closes on CSTV

CBS has closed on its $325 million purchase of CSTV Networks, the college sports digital cable net/Internet properties, for $325 million.

CSTV will operate as a separate division, with co-founder Brian Bedol remaining president and CEO, reporting to CBS President/CEO Leslie Moonves.

Selling cable startups is old hat (or should that be helmet) for Bedol, who co-founded Classic Sports Network and eventually sold it to ESPN (now ESPN Classic).