Contact Your Financial Adviser Money Making MC
31St
Aug 2016
Sony Pictures Networks India on Wednesday
announced it is acquiring the sports broadcasting business of Zee Entertainment
for $385 million in an all-cash deal.
"Zee's TEN Sports channels being
acquired include TEN 1, TEN 1 HD, TEN 2, TEN 3, TEN Golf HD, TEN Cricket, TEN
Sports that operate in several countries including the Indian sub-continent,
Maldives, Singapore, Hong Kong, Middle East, Caribbean," a company
statement said. The Total
Investment & Insurance Solutions
TEN Sports holds cricket rights in South
Africa, Pakistan, Sri Lanka, West Indies and Zimbabwe.
It also holds the rights for world wrestling,
some football leagues, WTA and ATP tennis events, golf tours, Asian and
Commonwealth Games athletics, motor sports and cycling events, includig Tour de
France. The Total Investment &
Insurance Solutions
"The acquisition of TEN Sports Network
will strengthen SPN's offering for viewers of cricket, football and fight
sports, complementing our existing portfolio of international and domestic
sporting properties," said NP Singh, CEO, Sony Pictures Networks India.
"This is a landmark deal for ZEE and a
step towards a strategic portfolio shuffle as we grow our general entertainment
business both in the domestic and overseas markets," added Punit Goenka,
Managing Director, Zee Entertainment Enterprises.The Total Investment & Insurance Solutions
No comments:
Post a Comment