Story perspectives

Bill Rasmussen, ESPN Co-Founder, Dies at 93

8/20/2026

Summary

Story summary

Entrepreneur Bill Rasmussen died at age 93 in Florida from Parkinson’s disease.
He co-founded ESPN with his son Scott, launching the 24-hour sports network on September 7 1979.
Rasmussen funded the satellite transponder with a $9,000 credit-card advance after being fired by the New England Whalers.
Getty Oil bought an 85 percent stake, providing primary funding for ESPN’s launch.
He served as ESPN’s first president and CEO until being pushed out in 1980.

History

Historical Context

HBO’s 1975 launch of the first nationwide 24-hour satellite-delivered cable service, funded with a $5 million transponder lease, proved programming could draw subscribers, prompting Time Inc. and Warner Communications to expand pay TV. Inspired by this model, Bill and Scott Rasmussen secured a $9,000 credit-card advance and Getty Oil’s 85 % stake to debut ESPN on September 7 1979, sparking a wave of specialty 24-hour networks throughout the 1980s.

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Story summary

Entrepreneur Bill Rasmussen died at age 93 in Florida from Parkinson’s disease.
He co-founded ESPN with his son Scott, launching the 24-hour sports network on September 7 1979.
Rasmussen funded the satellite transponder with a $9,000 credit-card advance after being fired by the New England Whalers.
Getty Oil bought an 85 percent stake, providing primary funding for ESPN’s launch.
He served as ESPN’s first president and CEO until being pushed out in 1980.

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