CCI clears Sony Pictures deal to buy TEN Sports

[rahul1117kumar]

Competition Commission has cleared Sony Pictures Networks' proposed purchase of TEN Sports, owned by Zee Entertainment Enterprise.

The USD 385 million worth deal was announced in August 2016.

In a tweet today, Competition Commission of India (CCI) said it has approved "acquisition of sports broadcasting business of TEN Sports by Sony Pictures Networks India Private Limited." Deals beyond a certain threshold require approval from CCI, which keeps a tab on unfair business practices across sectors.

Sony Pictures Networks India is a subsidiary of Sony Corporation, which owns and operates the Sony Entertainment network of television channels.

"The Board of the Directors of the company approved sale and transfer of the 'Sports Broadcasting Business' of the company...to Sony Pictures Networks India (SPN) and its affiliates at an aggregate all-cash consideration of USD 385 million," Zee Entertainment Enterprise Ltd (ZEEL) had said last August.

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 and the Caribbeans.

In August, Sony Pictures Networks India CEO NP Singh had said that the acquisition of TEN Sports Network would strengthen SPN's offering for viewers of cricket, football and fight sports, complementing our existing portfolio of international and domestic sporting properties.
ZEEL had bought Ten Sports from Dubai-based Abdul Rahman Bukhatir's Taj Group in 2006.

CCI clears Sony Pictures deal to buy TEN Sports

 

[SarFa]

hya Awesome News Shared :tup

 

[Tha.RP8]

So renaming operation is coming very soon..

 

[SarFa]

So renaming operation is coming very soon..

Yes bro :tup

 

[rahul1117kumar]

Sony Ten on the way soon.

 

[Ritesh]

They should make them all varients of sony six. Instead of sony ten 1, 2 and 3, it would be better if they merge it with six. They already have sony espn and now sony ten..

 

[Sai Jai]

So hereafter in India , only two n/w's going to Show sports tournaments star & sony .. Neo is exceptional and optional .. Why not Sony can buy Neo too??? ..

 

[Tha.RP8]

So hereafter in India , only two n/w's going to Show sports tournaments star & sony .. Neo is exceptional and optional .. Why not Sony can buy Neo too??? ..

Sony or star, whoever wants to buy, please buy this pathetic neo sports!! Done with useless people broadcasting fifa club world cup!!! :angry   :wall :wall :wall


BTW SPN Mr. Singh said they'd retain the ten brand because of international popularity of ten sports... Maybe they'll just stick 'sony' to them like espn and bbc earth...

 

[shawl_who]

Sony will now dethrone Star's monopoly in sporting arena :nj

They ll now have over 12-15 sport chnls. ( espn 2, ten 2 hd launch on its way)

 

[Tha.RP8]

espn 2, ten 2 hd launch on its way

First they should go for ten 2 hd and ten 3 hd and complete the ten package, then go for espn 2, espn 2 hd, six 2, six2 hd etc.. Not broadcasting champions league in hd is unfair...