Sony Pictures buys Ten Sports from Zee Entertainment for Rs 2,600 crore

Zee Entertainment Enterprises (ZEE) on Wednesday announced that SPN and its affiliates have entered into definitive agreements to acquire TEN Sports Network from Zee Entertainment Enterprises Limited (ZEE) and its subsidiaries for $385 million (Rs 2,600 crore).

"This is a landmark deal for ZEE and a step towards a strategic portfolio shuffle as we grow our general entertainment business," Punit Goenka, managing director of Zee Entertainment Enterprises Ltd. said in a tweet.

"Our focus is on transforming ourselves into an all round media company, comprising of five verticals - broadcast, digital, films, live events and international business. 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 greater heights," he added.

NP Singh, CEO, Sony Pictures Networks India said, "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." 

This deal is expected to leave majority of sports broadcast rights in India with two major players - 21st Century Fox-owned Star India and Japanese giant Sony Corp-owned SPN.

The 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.

Sony SIX, SPN's Sports Entertainment Channel sporting properties include IPL, UEFA EURO 2016, Qualifiers for UEFA EURO 2016, European Qualifiers for 2018 FIFA World Cup, 2018 FIFA World Cup, TNA, The Australian Open Tennis Championship, The NBA and The Ultimate Fighting Championship (UFC).
 
TEN Sports holds broadcast rights to major cricket boards (South Africa, Pakistan, Sri Lanka, West Indies and Zimbabwe). In addition, Ten Sports holds rights to wrestling (WWE), football (UEFA Champions League, UEFA Europa League, French League, English Football League Cup), tennis (WTA Events, ATP events), golf (European Tour, Asian Tour, Ryder Cup, US PGA Championship, LPGA Tour, Professional Golf Tour of India and Golf Channel Block), athletics (Asian Games, Commonwealth Games), motor sports (Moto GP) and cycling (Tour de France) events.