Sports, as the now-ending baseball strike reminds us, is a business. For many owners, a sports franchise is a key part of a diversified company. Most corporate owners are media-entertainment outfits. So Greg Maddux' pitching prowess for the Atlanta Braves--owned by Turner Broadcasting--is fodder for the Turner-owned TBS SuperStation. The latest addition to the corporate roster: Disney's Mighty Ducks of Anaheim in 1993. Today, satellite-service provider COMSAT, which is expanding into entertainment and owns the Denver Nuggets, is in the market for a hockey franchise.

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