Sony Pictures Networks India to acquire Ten Sports for $385 Million from ZeeEntertainment

California ,august31:Sony Pictures Networks India said Wednesday that it has struck a definitive agreement to acquire Ten Sports Network from Zee Entertainment Enterprises for $385 million.

The acquisition will add the big South Asian sports network to Sony’s existing portfolio of channels. Completion of the deal is subject to regulatory approval.

The Ten Sports channels being acquired include Ten 1, Ten 1 HD, Ten 2, Ten 3, Ten Golf HD, Ten Cricket and Ten Sports. The business operates in India, the Indian sub-continent, the Maldives, Singapore, Hong Kong, the Middle East and the Caribbean.

Ten Sports has rights to major cricket leagues, WWE wrestling, soccer events (UEFA Champions League, UEFA Europa League, French League, among others), tennis (WTA Events, ATP events), golf (European Tour, Asian Tour, Ryder Cup and more), athletics (Asian Games, Commonwealth Games), motor sports (Moto GP) and cycling (Tour de France).

Said Andy Kaplan, president, worldwide networks at Sony Pictures Television: “India has been a strong driver of Sony Pictures’ growing networks business for two decades, and sports continue to play a significant role in that growth. The acquisition of Ten Sports, following the launch of Sony ESPN channels, will mean that our Indian networks would reach over 800 million viewers and broadcast many of the most popular and prestigious sporting events in the world.”

More to come.