Sony takeover of Ten - Ahmedabad Mirror
[font=Arial, Helvetica, sans-serif][font=Arial, Helvetica, sans-serif]One thought that the impending Indian Premier League (IPL) broadcast rights deal would be the mega signing of the season but before that there could be another biggie. The television industry is abuzz with possible takeover of Ten Network by Sony (Sony Pictures Network). If all goes well, the deal, worth close to half a billion dollars, can take place in just over a month. That is approximately Rs 3000 crores. The talks have started sometime back and have reached an advanced stage. If successful, the five sports channels under Ten Network - Ten 1, Ten 2, Ten 3, Ten 1HD and Ten Golf Hd - will be part of Sony Group, which currently beams sports content through Sony Six and Sony ESPN.
Sony Max, of course, shows the IPL games. If the deal comes through, the Indian sports broadcast industry will be left with two major giants - Sony and Star. Neo Sports, the other sports channel, is virtually non-existent in the Indian market. Ten is also understood to be in negotiations with Eurosport, a big player in European market owned by Discovery Communications, but the talks with Sony are understood to be progressing well. Initially, it was thought of as JV between the two media houses but later officials of groups confirmed it would be a full-fledged takeover.
The reason for buy-sale talks is not difficult to discern through and insiders of the networks term it as a winwin deal. Sony, an international network but with largely Indian presence in sports broadacast, will be able to spread its wings internationally as Ten has recently made inroads into about 12 countries, including Pakistan, Bangladesh, Sri Lanka and Singapore. The buy would provide international reach to Sony.
[size=small]OWNING SOME PRIME SPORTS
If successful, Sony would also get to own some prime sports properties, namely WWE and UEFA Champions League. More importantly Ten owns international cricket of South Africa, Sri Lanka, West Indies, Zimbabwe and the biggest of them all is of Pakistan. An India-Pakistan series outside India would be its property, which can only be weighed in gold. Besides, Ten's fullfledged golf channel will come to its possession. For Ten, up for sale for quite some time, timing could be factor.
After being in the red for close to six years, it has been declaring profits in the last three years and the Ten managers feel it could be the right time to get a good deal. Besides, with its well-documented problems with the Board of Control for Cricket in India (BCCI), Ten has not had a pie of Indian cricket for close to 10 years and there has not been any sign of reconciliation between the BCCI and the network. It is not the first time, that Sony has eyed the Ten property.
About 10 years, it was in talks with the Network which was still owned by a Dubai-based Sheikh. Since then Subhash Chandra-owned Essel Group has taken over and moved the channels from Dubai to Delhi. "The plan is to consolidate the market," said a source conversant with the talks. A Sony source has said the best man to comment about is its CEO NP Singh, who did not respond to a text message from this paper. Himansu Modi, Ten's top honcho, neither confirmed nor denied.
[/font][/size][/font]
[font=Arial, Helvetica, sans-serif][font=Arial, Helvetica, sans-serif]One thought that the impending Indian Premier League (IPL) broadcast rights deal would be the mega signing of the season but before that there could be another biggie. The television industry is abuzz with possible takeover of Ten Network by Sony (Sony Pictures Network). If all goes well, the deal, worth close to half a billion dollars, can take place in just over a month. That is approximately Rs 3000 crores. The talks have started sometime back and have reached an advanced stage. If successful, the five sports channels under Ten Network - Ten 1, Ten 2, Ten 3, Ten 1HD and Ten Golf Hd - will be part of Sony Group, which currently beams sports content through Sony Six and Sony ESPN.
Sony Max, of course, shows the IPL games. If the deal comes through, the Indian sports broadcast industry will be left with two major giants - Sony and Star. Neo Sports, the other sports channel, is virtually non-existent in the Indian market. Ten is also understood to be in negotiations with Eurosport, a big player in European market owned by Discovery Communications, but the talks with Sony are understood to be progressing well. Initially, it was thought of as JV between the two media houses but later officials of groups confirmed it would be a full-fledged takeover.
The reason for buy-sale talks is not difficult to discern through and insiders of the networks term it as a winwin deal. Sony, an international network but with largely Indian presence in sports broadacast, will be able to spread its wings internationally as Ten has recently made inroads into about 12 countries, including Pakistan, Bangladesh, Sri Lanka and Singapore. The buy would provide international reach to Sony.
[size=small]OWNING SOME PRIME SPORTS
If successful, Sony would also get to own some prime sports properties, namely WWE and UEFA Champions League. More importantly Ten owns international cricket of South Africa, Sri Lanka, West Indies, Zimbabwe and the biggest of them all is of Pakistan. An India-Pakistan series outside India would be its property, which can only be weighed in gold. Besides, Ten's fullfledged golf channel will come to its possession. For Ten, up for sale for quite some time, timing could be factor.
After being in the red for close to six years, it has been declaring profits in the last three years and the Ten managers feel it could be the right time to get a good deal. Besides, with its well-documented problems with the Board of Control for Cricket in India (BCCI), Ten has not had a pie of Indian cricket for close to 10 years and there has not been any sign of reconciliation between the BCCI and the network. It is not the first time, that Sony has eyed the Ten property.
About 10 years, it was in talks with the Network which was still owned by a Dubai-based Sheikh. Since then Subhash Chandra-owned Essel Group has taken over and moved the channels from Dubai to Delhi. "The plan is to consolidate the market," said a source conversant with the talks. A Sony source has said the best man to comment about is its CEO NP Singh, who did not respond to a text message from this paper. Himansu Modi, Ten's top honcho, neither confirmed nor denied.
[/font][/size][/font]
hya
ohya
