Zee sells Ten Sports to Sony Pictures for $385 mn

August 31, 2016

New Delhi, Aug 31: Media Firm Zee Entertainment Enterprise Ltd (ZEEL) has sold its sports channel Ten Sports to Sony Pictures Networks for a $385-million (about Rs 2,579 crore) all cash deal.

tensports

“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,” ZEEL said in a BSE filing.

ZEEL said the company and its subsidiaries have executed relevant binding agreements in this regard.

It said its Sports Broadcasting Business is currently housed under Taj TV Ltd, Mauritius, which carried out the business of distribution and broadcasting of the sorts content through TEN brand of television channels and Taj Television (India) which acts as an exclusive agent in India for down-linking, distributing, marketing and sale of advertisement of the sports channel owned by Taj TV Ltd, Mauritius.

“The acquisition of TEN Sports Network will strengthen SPN’s offering for viewers of cricket, football and fight sports, complementing our existing portfolio of international and domestic sporting properties. It also aptly demonstrates SPN’s commitment to providing a broad range of sporting entertainment to fans across India and the sub-continent,” Sony Pictures Networks India CEO NP Singh said.

Sports Broadcasting Business accounted for Rs 631 crore revenue in the company’s consolidated revenue and net loss of Rs 37.20 crore for the fiscal 2015-16.

ZEEL had bought Ten Sports from Dubai-based Abdul Rahman Bukhatir’s Taj Group in 2006.

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, Caribbean.

Completion of the acquisition is subject to regulatory approval.

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News Network
February 5,2020

New Delhi, Feb 5: IPL franchise Kolkata Knight Riders (KKR) has denied any financial dealings with the controversial Rose Valley Group except for it being a sponsor of the side's official jerseys in 2012 and 2013.

KKR issued the clarification after the Enforcement Directorate (ED) attached Rose Valley's assets worth over Rs 70 crore on Monday. The attached assets include Rs 11.87 crore bank deposits of Knight Riders Sports Pvt Ltd, that owns KKR, in connection with a money laundering probe.

The franchise said it hopes for the matter to be resolved expeditiously.

"Rose Valley Hotels was one of KKR's IPL jersey sponsors for IPL seasons 2012 and 2013. Rose Valley had paid KKR an approx. amount of Rs 11.87 crore as sponsorship fees," KKR CEO Venky Mysore said in a statement.

"KKR had no other dealings with the Rose Valley Group including Rose Valley’s micro finance business," he added.

The statement added that in July last year, KRSPL (Knight Riders Sports Pvt Ltd), received a "witness summon" from the ED in connection with an investigation relating to the Rose Valley Group, particularly its micro finance business.

"The ED continues the investigation of Rose Valley. KKR continues to cooperate with the authorities in all respects," Mysore said.

"As part of the investigative process, sometime in October 2019, the ED placed a lien on the said amount earlier paid by Rose Valley to KKR," he asserted.

The directors of KRSPL include Shah Rukh Khan's wife Gauri Khan, actor Juhi Chawla's husband Jay Mehta, Mysore and two others.

Mysore was questioned in this case by ED's Kolkata office in October last year.

Apart from KRSPL, the ED attached properties of two other entities -- Multiple Resorts Pvt. Ltd. and Kolkata's St Xavier's College on Monday.

The ED registered an FIR against the Rose Valley group, its chairman Gautam Kundu and others under the Prevention of Money Laundering Act in 2014.

Kundu was arrested by the agency in Kolkata in 2015 and is in judicial custody at present.

The ED has filed multiple charge sheets in Kolkata and Bhubaneswar courts in this connection and total attachments are now worth Rs 4,750 crore.

The group has been charged by the ED and the CBI with "illegally and fraudulently collecting deposits from public with the intention to cheat them by falsely promising high returns on their investment", thereby perpetrating a ponzi-like fraud.

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Agencies
June 7,2020

Mumbai, Jun 7: The Mumbai airport became home for a 23-year-old Ghanaian footballer for 74 days after he got stranded there due to the coronavirus-induced lockdown that led to cancellation of flights.

The ordeal of Randy Juan Muller reminded people of Tom Hank's character in the Hollywood film "The Terminal", and it ended after Yuva Sena, the youth wing of the Shiv Sena, reached out to help him.

Muller has now shifted to a local hotel and is waiting for airlines to resume operations so that he can fly home.

The Mumbai International Airport Ltd (MIAL) also provided him all help, including food, and allowed him to use the airport WiFi network to make calls, an official said.

Muller, a Ghana national who used to play for a club in Kerala, was scheduled to fly home by Kenya Airways flight when the lockdown was announced and he found himself stranded at the Mumbai airport.

"He would spend his time at the airport's fancy artificial gardens and somehow buy food from stalls and pass his time with the airport staff. Muller told me the airport staff was very helpful," Yuva Sena office-bearer Rahul Kanal said.

A security officer at the airport gave him mobile phone to call his family back home.

A Twitter user brought Muller's plight to the notice of Maharashtra Tourism Minister Aaditya Thackeray following which Kanal reached out to the footballer and helped him move into a hotel.

On Saturday, Muller thanked Thackeray and Kanal for their help.

"Thank you Aaditya Thackeray, Rahul Kanal. Thank you very very so much. I appreciate what you have done. Salute," he said.

Kanal in a tweet said when he met Muller at the airport, the latter cried with happiness.

"Have no words to salute his willpower and fight for survival in such circumstances at this age," Kanal said.

An official at the Mumbai International Airport Ltd said the footballer was provided all help.

"All personnel at the airport, including from MIAL and CISF, gave him every possible help during his stay at the airport. Besides food, he was also allowed to use the airport WiFi network to make calls. Airport staff would recharge his phone at their own expense," the official said.

The 2004 film "Terminal" of Steven Spielberg was about a man stranded at a US airport after being denied entry into the country and a military coup back home.

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News Network
March 2,2020

Mar 2: Indian captain Virat Kohli was left frustrated and deflated as New Zealand won the second Test inside three days in Christchurch on Monday to sweep the series.

India started the day at 90 for six and were all out for 124, before New Zealand chased down the required 132 to win for the loss of three wickets in 36 overs.

It ended a disappointing tour for India and Kohli as New Zealand, who won the first Test by 10 wickets early on day four, wrapped up the series with ease.

New Zealand are now unbeaten in their last 13 home Tests, winning nine of them, and in the past decade their record as hosts is played 39, won 20, drawn 13 and lost five.

In the latest series, on traditional New Zealand green wickets, India managed scores of 165, 191, 242 and 124, reflecting the low contributions from Kohli of 2, 19, 3 and 14.

Kohli came to New Zealand as the world's top Test batsman and oozing charm as he described New Zealand as the “nice guys” of cricket.

But during the series he lost his top ranking to Australian Steve Smith and when Kane Williamson went for three in the first innings of the second Test the pressure showed when he gave the New Zealand skipper a very animated send-off.

There was further evidence of frustration when he was caught on camera yelling an obscenity at a group of New Zealand supporters on Sunday.

The end came quickly for India on day three as Tim Southee and Trent Boult tormented the batsmen with their variety of inswing and outswing deliveries targeting both sides of the stumps.

Hanuma Vihari was the first to fall, in Southee's second over, when he turned a legside delivery too fine and was caught by BJ Watling diving to his left.

Five balls later and with no addition to the score, India's other overnight batsman Rishabh Pant was caught behind off a Boult delivery that swung away.

Mohammed Shami was caught for five by Tom Blundell at deep mid-wicket and Jasprit Bumrah was run out when trying to give the strike to Ravindra Jadeja, who was unbeaten on 16.

Boult and Southee signed for most of the dismissals with Boult taking four for 28 and Southee three for 36. The swing pair accounted for 25 of the 40 Indian wickets in the series.

There was enough seam and swing available for India to keep the New Zealand batsmen guessing but Bumrah and Umesh Yadav were unable to apply consistent pressure and Mohammed Shami was troubled by a sore shoulder.

New Zealand coasted through a century opening stand by Tom Latham and Blundell before losing three quick wickets.

Latham notched his 18th half-century and second of the Test before he was caught behind off Yadav for 52, Kane Williamson had a short stay for five, and Blundell went for 55.

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