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
June 2,2020

New Delhi, Jun 2: Manchester United's Paul Pogba on Monday paid tribute to George Floyd, stressing that violent acts of racism can no longer be tolerated and they have to stop.

Pogba took to Instagram to write: "During the past few days I have thought a lot about how to express my feelings about what happened in Minneapolis. I felt anger, pity, hatred, indignation, pain, sadness."

"Sadness for George and for all black people who suffer from racism Every day! Whether in football, at work, at school, Anywhere! This has to stop, once and for all! Not tomorrow or the next day, it has to end today! Violent acts of racism can no longer be tolerated," he added.

Protests erupted in Minneapolis and other US cities on Tuesday after Floyd, an African-American man, died following his arrest by the four officers.

A viral video showed a police officer, Derek Chauvin, pinning 46-year-old Floyd to the ground with his knee on his neck for nearly eight minutes. Floyd died at a local hospital shortly thereafter.

The four police officers were fired. Chauvin was also charged with murder and manslaughter, according to Hennepin County Attorney Mike Freeman.

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zaki ahmed
 - 
Wednesday, 3 Jun 2020

This photograph in the above mentioned article is of Floyd Mayweather Jr , the world welterweight & super heavy weight champion & wrongly menitoned as Pogba .

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Agencies
March 8,2020

Mumbai, Mar 8: Shikhar Dhawan, Hardik Pandya and Bhuvneshwar Kumar returned to India's ODI squad as the Board of Control for Cricket in India (BCCI) announced the team for the upcoming South Africa series.

South Africa are scheduled to tour India for a three-match ODI series, starting from March 12.

India's ODI squad: Shikhar Dhawan, Prithvi Shaw, Virat Kohli (C ), KL Rahul, Manish Pandey, Shreyas Iyer, Rishabh Pant, Hardik Pandya, Ravindra Jadeja, Bhuvneshwar Kumar, Yuzvendra Chahal, Jasprit Bumrah, Navdeep Saini, Kuldeep Yadav, Shubman Gill.

Cricket South Africa (CSA) have already announced their squad for the series and spinner George Linde was given maiden ODI call-up.

South Africa squad: Quinton de Kock (c, wk), Temba Bavuma, Rassie van der Dussen, Faf du Plessis, Kyle Verreynne, Heinrich Klaasen, David Miller, Jon-Jon Smuts, Andile Phehlukwayo, Lungi Ngidi, Lutho Sipamla, Beuran Hendricks, Anrich Nortje, George Linde, Keshav Maharaj, Janneman Malan.

The first ODI will be played in Dharamsala while the other two matches will be played in Lucknow and Kolkata on March 15 and 18, respectively.

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News Network
March 4,2020

Mar 4: The BCCI has decided to implement strict cost cutting measures with the notable decision being IPL 2020 champions' prize money will be halved as compared to 2019. In a circular sent to all IPL franchises, the BCCI has notified that instead of a whopping Rs 20 crore, the IPL champion team will now receive Rs 10 crore only. "The financial rewards have been reworked as a part of the cost cutting measures. The champions will get Rs 10 crore instead of Rs 20 crore. The runners-up will get Rs 6.25 crore from earlier Rs 12.5 crore," a BCCI notification, in possession of news agency, read.

The two losing qualifiers will now get Rs 4.375 crore each.

"The franchises are all in good health. They also have multiple ways like sponsorships to bolster their income. Hence the decision on prize money taken," a senior BCCI source said.

However, a state association hosting IPL games will get Rs 1 crore each with franchises and BCCI contributing Rs 50 lakh each.

It has also been learnt that mid-level BCCI employees won't be allowed to avail business class flights like earlier times for flying to the Asian countries (Sri Lanka, Bangladesh, UAE) where the flying time is less than eight hours.

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