Zee Entertainment sells Ten Sports to Sony Pictures for Rs 2,600 crore
This deal that will make sports broadcasting in India a duopoly of 21st Century Fox-owned Star India and Japanese giant Sony Corp-owned SPN.
Television moghul Subhash Chandra's Zee Entertainment Enterprises (ZEE) approved sale of sports broadcasting business to Sony Pictures for $385 mn (Rs 2,600 crore) cash.
Zee Entertainment acquired Ten sports from Dubai-based Abdul Rahman Bukhatir's Taj Group in 2006. The deal is expected to conclude in 4-5 months.
This deal that will make sports broadcasting in India a duopoly of 21st Century Fox-owned Star India and Japanese giant Sony Corp-owned SPN.
Nimbus-owned Neo Sports, the third player, is very small without any big or significant property under its belt. "ZEE has been looking to sell Ten Sports for some time as Chandra and his son Punit Goenka (MD at ZEE) are not much inclined towards running a lossmaking sports business," a highly placed source in ZEE told ET.
Varun Gupta, managing director at valuation firm Duff and Phelps feels that Sony and Star have been the undisputed top two players in India. He said, "It is strategically a good move for Sony as it would consolidate its position among the two top players in the sub-continent."

"I think the deal is good for both parties," said a senior executive from a sport broadcasting company. "Ten's long-term content deals (particularly with WWE and other cricket boards) make Sony less reliant on IPL renewal, while ZEE gets rid of a business that has brought down margins and cash to invest in other things."
Another sports media expert opined, "Ten Sports, though a big brand, never went after rights of sporting properties aggressively after its feud with the BCCI over Indian Cricket league (ICL).
In the past 4 years, the fight for majority of the rights has always been between Star India, and SPN, which is a clear number two."
Star India holds telecast rights of BCCI, ICC, Cricket Australia, English Cricket Board, Formula 1, EPL, and tennis grand slams like Wimbledon and French Open, while SPN's marquee properties include IPL, FIFA, UEFA Euro, NBA and UFC.
"This deal would also help Sony get a foothold into the African & Middle East markets where TEN has a very good presence," Gupta added.
With the duopoly, some experts believe that there might be deflation in price of non-popular or smaller properties and new domestic leagues.
MUMBAI: Sony Pictures Networks India (SPN) has announced that SPN and its affiliates have entered into definitive agreements to acquire TEN Sports Network from Zee Entertainment Enterprises Limited (ZEEL) and its subsidiaries for 385 million U.S. dollars. Completion of the acquisition is subject to regulatory approval.
The acquisition will add South Asia's leading sports network to SPN’s existing portfolio of channels. 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. 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 Europe 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.
Long a television destination for sports fans, SPN sports properties include cricket (IPL, CPL, Ram Slam), football (FIFA 2018 World Cup Russia, UEFA Euro 2016, FIFA World Events including FIFA U-17 World Cup 2017 in India, European and South American Qualifiers for FIFA WC 2018, FIFA Confederations Cup, LaLiga, Serie A, FA Cup, Copa America Centenario, International Champions Cup), tennis (Australian Open, ATP 1000 and 500 World Tour Events, Champions Tennis League), fight sports (TNA, UFC, Pro Wrestling League), basketball (NBA) as well as NFL and Premier Futsal.
Comments Sony Pictures Networks India CEO NP Singh: “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.”
Sony Pictures Television President, Worldwide Networks Andy Kaplan: “India has been a strong driver of Sony Pictures’ growing networks business for two decades, and sports continue to play a significant role in that growth. The acquisition of TEN Sports, following the launch of SONY ESPN channels, will mean that our Indian networks would reach over 800 million viewers and broadcast many of the most popular and prestigious sporting events in the world.”
Zee Entertainment Enterprises Limited (ZEE) MD Punit Goenka: “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. 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, comprising of five verticals, viz. broadcast, digital, films, live events, and international business; 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. I wish them all the success.”
With inputs from THE ECONOMIC TIMES and Indian Television.com
This deal that will make sports broadcasting in India a duopoly of 21st Century Fox-owned Star India and Japanese giant Sony Corp-owned SPN.
Television moghul Subhash Chandra's Zee Entertainment Enterprises (ZEE) approved sale of sports broadcasting business to Sony Pictures for $385 mn (Rs 2,600 crore) cash.
Zee Entertainment acquired Ten sports from Dubai-based Abdul Rahman Bukhatir's Taj Group in 2006. The deal is expected to conclude in 4-5 months.
This deal that will make sports broadcasting in India a duopoly of 21st Century Fox-owned Star India and Japanese giant Sony Corp-owned SPN.
Nimbus-owned Neo Sports, the third player, is very small without any big or significant property under its belt. "ZEE has been looking to sell Ten Sports for some time as Chandra and his son Punit Goenka (MD at ZEE) are not much inclined towards running a lossmaking sports business," a highly placed source in ZEE told ET.
Varun Gupta, managing director at valuation firm Duff and Phelps feels that Sony and Star have been the undisputed top two players in India. He said, "It is strategically a good move for Sony as it would consolidate its position among the two top players in the sub-continent."

"I think the deal is good for both parties," said a senior executive from a sport broadcasting company. "Ten's long-term content deals (particularly with WWE and other cricket boards) make Sony less reliant on IPL renewal, while ZEE gets rid of a business that has brought down margins and cash to invest in other things."
Another sports media expert opined, "Ten Sports, though a big brand, never went after rights of sporting properties aggressively after its feud with the BCCI over Indian Cricket league (ICL).
In the past 4 years, the fight for majority of the rights has always been between Star India, and SPN, which is a clear number two."
Star India holds telecast rights of BCCI, ICC, Cricket Australia, English Cricket Board, Formula 1, EPL, and tennis grand slams like Wimbledon and French Open, while SPN's marquee properties include IPL, FIFA, UEFA Euro, NBA and UFC.
"This deal would also help Sony get a foothold into the African & Middle East markets where TEN has a very good presence," Gupta added.
With the duopoly, some experts believe that there might be deflation in price of non-popular or smaller properties and new domestic leagues.
MUMBAI: Sony Pictures Networks India (SPN) has announced that SPN and its affiliates have entered into definitive agreements to acquire TEN Sports Network from Zee Entertainment Enterprises Limited (ZEEL) and its subsidiaries for 385 million U.S. dollars. Completion of the acquisition is subject to regulatory approval.
The acquisition will add South Asia's leading sports network to SPN’s existing portfolio of channels. 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. 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 Europe 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.
Long a television destination for sports fans, SPN sports properties include cricket (IPL, CPL, Ram Slam), football (FIFA 2018 World Cup Russia, UEFA Euro 2016, FIFA World Events including FIFA U-17 World Cup 2017 in India, European and South American Qualifiers for FIFA WC 2018, FIFA Confederations Cup, LaLiga, Serie A, FA Cup, Copa America Centenario, International Champions Cup), tennis (Australian Open, ATP 1000 and 500 World Tour Events, Champions Tennis League), fight sports (TNA, UFC, Pro Wrestling League), basketball (NBA) as well as NFL and Premier Futsal.
Comments Sony Pictures Networks India CEO NP Singh: “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.”
Sony Pictures Television President, Worldwide Networks Andy Kaplan: “India has been a strong driver of Sony Pictures’ growing networks business for two decades, and sports continue to play a significant role in that growth. The acquisition of TEN Sports, following the launch of SONY ESPN channels, will mean that our Indian networks would reach over 800 million viewers and broadcast many of the most popular and prestigious sporting events in the world.”
Zee Entertainment Enterprises Limited (ZEE) MD Punit Goenka: “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. 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, comprising of five verticals, viz. broadcast, digital, films, live events, and international business; 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. I wish them all the success.”
With inputs from THE ECONOMIC TIMES and Indian Television.com
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