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  • Sony Pictures acquires Zee’s Ten Sports

    Sony Pictures acquires Zee’s Ten Sports

    Sony Pictures Networks India (SPN) and its affiliates have entered into definitive agreements to acquire TEN Sports Network from Zee Entertainment Enterprises and its subsidiaries for $385 million.

    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 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.

    “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, Sony Pictures Networks India.

    “It also aptly demonstrates SPN’s commitment to providing a broad range of sporting entertainment to fans across India and the sub-continent,” said Singh.

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  • Zee acquires Sarthak Entertainment for $17m

    Zee acquires Sarthak Entertainment for $17m

    Zee Entertainment Enterprises has decided to acquire fully Sarthak Entertainment, which operates Odia-language Sarthak TV.

    The acquisition shall be from current shareholders of Sarthak Entertainment, subject to requisite regulatory approvals, as an all-cash deal at a consideration of maximum of 1.15 billion rupees or about $17 million.

    With this acquisition, Zee has entered the rapidly expanding regional market in Odisha. Sarthak TV would complement Zee’s regional bouquet of channels that includes Zee Marathi, Zee Talkies, Zee Bangla, Zee Bangla Cinema, Zee Telugu, Zee Kannada and Zee Tamizh.

    “The acquisition of an already profitable, market leading venture is going to be a value accretive investment in line with our philosophy of enhancing shareholder value,” said Punit Goenka, managing director and CEO of Zee. “Sarthak will further add to our formidable bouquet of 33 channels in the domestic market.”

    “Being the oldest and market leading network in India, Zee would provide the perfect platform for Sarthak to grow further in the future,” said Sitaram Agrawalla, founder and managing director of the Sarthak Group. “With a history of successful operations, we are sure Sarthak will be a great value-add for Zee.”

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