ZEE sells Ten Sports to Sony for $385 mn
With this sale, Zee has essentially exited the sports broadcast business, making the Indian market a duopoly between SPN and Star India
Urvi Malvania | Mumbai September 1, 2016
Zee Entertainment Enterprises Ltd
Marking the second largest deal in media and entertainment in recent times, Sony Pictures Networks India (SPN) has bought media firm Zee Entertainment Enterprises (ZEEL)-owned Ten Sports bouquet of channels for $385 million (approximately Rs 2,600 crore) in an all-cash deal.
With this, SPN has cemented itself as a strong competitor to Star India, increasing its bouquet strength to nine channels in the country. Star India operates eight sports channels under the Star Sports brand.