Sony is pursuing more on sports entertainment sector which got a huge fan base for different games like cricket, football, and fights sports across India.
Following the launch of SonyESPN channel, the Indian hand of Sony, the Sony Pictures Networks India (SPN) will acquire the complete TEN Sports network from Zee Entertainment Enterprises Limited (ZEE) and its subsidiaries. The deal will be for 385 million U.S. dollars or around Rs 2,600 crore.
So what’s all been bagged by Sony? The acquisition will add seven popular sports channels to Sony’s sports entertainment portfolio. These include TEN 1, TEN 1 HD, TEN 2, TEN 3, TEN Golf HD, TEN Cricket and TEN Sports. These channels got significant viewership in several countries including the Indian sub-continent, Maldives, Singapore, Hong Kong, Middle East and the Caribbean.
The acquisition is more significant as TEN Sports holds broadcast rights to all major cricket boards, wrestling (WWE), football (UEFA Champions League, UEFA Europa League, French League, English Football League Cup), tennis, golf, athletics (Asian Games, Commonwealth Games), Moto GP and cycling events.
SPN on the other hand already hold broadcast rights for some popular events like cricket (IPL), football (FIFA 2018 World Cup Russia, UEFA Euro 2016 LaLiga, Serie A, FA Cup), Wrestling (TNA, UFC) and NBA.
The acquisition will boost up Sony Pictures’ viewership in Indian networks to over 800 million viewers. Whereas Zee looks to reorganize its entertainment business both in the domestic and overseas markets.