Sony Pictures Networks India is to acquire Ten Sports Network from Zee Entertainment Enterprises for US$385 million (€345 million).
Sony said the acquisition would add South Asia’s leading sports network to its existing portfolio of channels. The channels being acquired include Ten 1, Ten 1 HD, Ten 2, Ten 3, Ten Golf HD, Ten Cricket and Ten Sports. Ten Sports Network operates in territories including India, the Maldives, Singapore, Hong Kong, Middle East and the Caribbean.
The channels hold rights to WWE wrestling, UEFA Champions League and Europa League football, France’s Ligue 1, the English Football League Cup, and high-profile tennis, golf, athletics, motor sports and cycling events.
“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,” said Andy Kaplan, president, worldwide networks, Sony Pictures Television.
“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,” said Punit Goenka, managing director, Zee Entertainment Enterprises.
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