Big deal for Sony Pictures Network India (SPN). The company will soon acquire Zee’s TEN Sports Network and its subsidiaries. The sum to be invested is 385 million USD. Once the regulatory approval will be completed, TEN Sports channels’ TEN 1, TEN 1 HD, TEN 2, TEN 3, TEN Golf HD, TEN Cricket, TEN Sports, will be available.
TEN Sports have the broadcast rights to the important tournaments in cricket boards (South Africa, Pakistan), wrestling (WWE), football (UEFA Champions League, UEFA Europa League), tennis (WTA events, ATP events), golf (European tour, Ryder Cup), athletics (Asian Games, Commonwealth Games), motor sports (Moto GP) and cycling (Tour de France).
NP Singh, CEO, Sony Pictures Networks India, commented: “I welcome TEN Sports to the Sony family. 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. It also aptly demonstrates SPN’s commitment to providing a broad range of sporting entertainment to fans across India and the sub-continent”.
Punit Goenka, Managing Director, Zee Entertainment Enterprises Limited (ZEE), said: “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”.
He also added that: “While we have grown our sports business over the last 10 years through acquisition of content at competitive prices, our focus now is on transforming ourselves into an all-round media and content company, […] and we continue to move rapidly towards our set business goals. While I have always been proud of our sports business, I strongly believe that Sony will add more value to it by taking it to even greater heights”.