Technoglitch
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Sony Pictures Network, which beams a bouquet of sports and entertainment channels, is on the verge of taking over Ten Network, industry sources said on Friday.
If all goes well, the deal, worth close to Rs 2000 crore, could be signed in a month's time. If successful, the merger will add five sports channels -- Ten 1, Ten 2, Ten 3, Ten 1 HD and Ten Golf HD - to Sony's already strong line-up of Sony Six, Sony ESPN and Sony Max, which currently holds the exclusive rights to air all Indian Premier League games.
Sources said talks between the two networks have been on for some time, but the negotiations gained momentum in the past couple of weeks. If the deal goes through, the Indian sports broadcast industry will be left with only two major players - Sony and Star.
Ten has also been in talks with Discovery Communications' owned Eurosport, a big player in European sports market, but talks with Sony are understood to be progressing well. While what was initially discussed was a joint venture, both companies are now focused on a full-fledged takeover.
Merger talks between Sony, Ten Sports? - Mumbai Mirror
If all goes well, the deal, worth close to Rs 2000 crore, could be signed in a month's time. If successful, the merger will add five sports channels -- Ten 1, Ten 2, Ten 3, Ten 1 HD and Ten Golf HD - to Sony's already strong line-up of Sony Six, Sony ESPN and Sony Max, which currently holds the exclusive rights to air all Indian Premier League games.
Sources said talks between the two networks have been on for some time, but the negotiations gained momentum in the past couple of weeks. If the deal goes through, the Indian sports broadcast industry will be left with only two major players - Sony and Star.
Ten has also been in talks with Discovery Communications' owned Eurosport, a big player in European sports market, but talks with Sony are understood to be progressing well. While what was initially discussed was a joint venture, both companies are now focused on a full-fledged takeover.
Merger talks between Sony, Ten Sports? - Mumbai Mirror
