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Zee sports division losses to Rs 1 bn in FY'12

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Zee Entertainment Enterprises Ltd (Zeel) will manage to reduce its losses in the sports broadcasting business to within Rs 1 billion this fiscal amid a drop in costs, a senior executive said.

Revenue is expected to fall as well as there is only one India-specific series in the calendar this year. While in FY’11 Zeel had live telecast rights for the India-Sri Lanka and India-South Africa series, in the current fiscal it has India touring West Indies.

“The sports losses will continue in FY’12. We expect this to fall in the region of Rs 800 million-Rs 1 billion,” said Zeel EVP corporate strategy and business development Atul Das, while declining to provide a forecast on the earnings from the sports broadcasting business.

Zeel’s sports losses for FY’11 stood at Rs 2.08 billion on a revenue of Rs 4.4 billion (excluding a one-time revenue gain of Rs 700 million as one-time fee for the pre-mature termination of rights for AIFF).

The company reported a cost of Rs 6.49 billion in the full-fiscal ended 31 March 2011, a jump of 74 per cent over the year-ago period.

Zeel is awaiting regulatory approval for launching a golf channel. “We will be launching a golf Channel. We have no plans to launch any other channel this fiscal,” Das said.

In the previous fiscal, Zeel launched Ten Cricket and repositioned Ten Action+ with football as its focus. The third channel in the network is Ten Sports, a varied sports channel.

The upcoming cricket telecast line up on Ten Cricket include India tour of West Indies, Pakistan tour of West Indies, Zimbabwe vs Sri Lanka series, and Zimbabwe vs New Zealand series.

Zeel has rights to telecast cricket from five boards – Sri Lanka, Pakistan, South Africa, West Indies and Zimbabwe.
 

mystic

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since they are introducing dedicated chanel for individual sports like cricket, soccer and now golf chanel, why not start wwe hd chanel for wwe fans.