Sony Pictures Networks India is to pay $385 million to acquire TEN Sports Networks from Zee Entertainment Enterprises Limited.
The deal includes channels TEN 1, 2, 3 and TEN Golf HD, TEN Cricket and TEN Sports that operate across South Asia, Singapore, Hong Kong, the Middle East and the Caribbean. cements Sony’s position as one of India’s leading sports broadcasters, particularly in the national sport, cricket.
“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,” said Andy Kaplan, president, Worldwide Networks, Sony Pictures Television. The agreement is subject to regulatory approval.
Punit Goenka, MD of ZEEL, said: “This is a landmark deal for ZEE and a step towards a strategic portfolio shuffle, as we grow our general entertainment business bothin the domestic and overseas markets… our focus now is on transforming ourselves into an all-round media and content company, comprising of five verticals: broadcast, digital, films, live events and international business.”
TEN Sports holds broadcast rights to major cricket boards (South Africa, Pakistan, Sri Lanka, West Indies and Zimbabwe). It also 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.
SPN (previously called Multi Screen Networks) has sports properties including cricket (IPL, CPL, Ram Slam), soccer (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, La Liga, 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. “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,” said NP Singh, CEO of SPN India.