SPN is now equipped, better than ever, to offer its viewers premium sporting content with a sports portfolio that includes every major sport and many international as well as domestic leagues
BestMediaInfo Bureau | Mumbai | March 1, 2017
Sony Pictures Networks India (SPN) and its affiliates have completed the first phase of a two-phase acquisition of the Ten Sports Network from Zee Entertainment Enterprises Limited (ZEEL) and its subsidiaries.
SPNâ€™s sports cluster has now expanded to accommodate nine channels, including Sony Six, Sony Six HD, Sony ESPN, Sony ESPN HD, Ten 1, Ten 1 HD, Ten 2, Ten 3 and Ten Golf HD. Ten sports channels that are a part of the complete acquisition include Ten Cricket and Ten Sports, though these will be a part of the second phase of acquisition.
In August 2016, it was announced that SPN and its affiliates had entered into definitive agreements to acquire Ten Sports Network from ZEEL and its subsidiaries for 385 million US dollars. The Ten Sports channels being acquired include Ten 1, Ten 1 HD, Ten 2, Ten 3, Ten Golf HD, Ten Cricket and Ten Sports that operate in several countries, including India, Maldives, Singapore, Hong Kong, Middle East and Caribbean.
For this two-phased acquisition, certain other operations and assets will be included in the final subject to certain closing conditions, which is expected to be completed in the next few months.
NP Singh, CEO, Sony Pictures Networks India said, â€śI am delighted that the teams from SPN and ZEEL have completed this core phase of the transaction in good time. SPN is now equipped, better than ever, to offer its viewers premium sporting content with a sports portfolio that includes every major sport and many international as well as domestic leagues. We are now stepping into the integration process to facilitate a seamless transition.â€ť
Punit Goenka, Managing Director, Zee Entertainment Enterprises Limited said, â€śGreat job done by the teams from SPN and ZEEL in facilitating the closure of this phase of the transaction. I am confident that the Ten Sports Network will reach new levels of consumer engagement under the nurturing guidance of SPN. I wish them the best. Iâ€™ll be tuning in regularly.â€ť
SPN comprises 27 channels, including the five recently acquired channels from Ten Sports Network. Sony Pictures Networks India is in its 22nd year in India.
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.