Update WWE, rupee softening to keep ZEEL sports biz loss at Rs 1 bn in FY15

[Akash Modi]

Zee Entertainment Enterprises Ltd (ZEEL) is expecting its sports losses to be around Rs 100 crore (Rs 1 billion) this fiscal, similar to what it was a year ago. Though there is no India cricket, the re-pricing of content like WWE and cricket due to softening of the rupee will keep the losses in FY15 at the previous fiscal level. ZEEL renewed rights to WWE at a higher price while its existing cricket rights fees went up on account of rupee depreciation. ZEEL also had to pay higher for obtaining the rights to show the Pakistan cricket series. “We have had properties like the Commonwealth Games, the Pakistan cricket series with Australia and New Zealand, which is coming up. We have already had a West Indies-Bangladesh series. We also had the U.S. Open. So some of those properties, plus the renewal on the WWE will keep the losses at around last year’s level. There is also an element of foreign exchange as most of our deals are in U.S. dollars,” said a ZEEL executive.

Read more at: http://www.televisionpost.com/television/wwe-rupee-softening-to-keep-zeel-sports-biz-loss-at-rs-1-bn-in-fy15/ | TelevisionPost.com

 

[Devesh]

So they r in loss , so why not they shut down there channel?

 

[Sanjeev]

So they r in loss , so why not they shut down there channel?

But if at all as you are saying that the channel must shut down then where we will see WWE events

 

[DashMajor]

So they r in loss , so why not they shut down there channel?

They will not shutdown because its strengthen their portfolio. Once Puneet Goenka said they're ready to loose money for sports but they will not bid for a crazy amount to get the rights.