 On July 3, 1996, News Corporation and Liberty Media/TCI announced that the Prime Sports networks would be rebranded under the new "Fox Sports Net" brand; the Prime Sports-branded affiliates were officially relaunched as Fox Sports Net on November 1 of that year.That same year, Fox purchased SportSouth from Turner and rebranded that network as Fox Sports South.On June 30, 1997, the Fox/Liberty joint venture purchased a 40% interest in Cablevision's sports properties including the SportsChannel America networks, Madison Square Garden, and the New York Knicks and New York Rangers professional sports franchises, a deal worth $850 million; the deal formed the venture National Sports Partners to run the owned-and-operated regional networks.