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
April 8,2020

London, Apr 8: England wicketkeeper Jos Buttler has raised more than 65,000 pound (USD 80,000) to help fight the coronavirus by auctioning off his World Cup final shirt.

Buttler's shirt, which he wore when completing the last-ball run-out that saw England beat New Zealand at Lord's last year, was sold to raise money for specialist heart and lung centres provided by the Royal Brompton and Harefield hospitals in London.

Buttler, who earlier in the showpiece match had hit a fifty and batted in the Super Over, put his long-sleeve keeping jersey up for sale on eBay a week ago.

By the time the auction closed on Tuesday, the shirt had attracted 82 bids with the winner paying 65,100 pound.

Buttler, speaking on Monday, said: "It's a very special shirt but I think it takes on extra meaning with it being able to hopefully go to the emergency cause.

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News Network
February 2,2020

Mount Maunganui, Feb 2: India registered a rare 5-0 whitewash against New Zealand after notching up a seven-run win in the fifth and final T20 International at Bay Oval here on Sunday.

Electing to bat, India posted 163 for three, riding on Rohit Sharma's 60 off 41 balls and a 33-ball 45 from K L Rahul.

The visitors then restricted the hosts to 156 for nine with Jasprit Bumrah claiming three wickets for 12 runs.

Chasing the target, the Black Caps were tottering at 17 for three in 3.2 overs.

Tim Seifert (50) and Ross Taylor (53) then added 99 runs for the fourth wicket as New Zealand recovered to 116.

Seifert clobbered a 30-ball 50 studded with five fours and three sixes, while Ross Taylor hit two sixes and five fours in his 47-ball 53-run innings.

However, once Seifert was dismissed in the 13th over, the hosts suffered a collapse, losing five wickets, including Taylor, for 25 runs to loss the plot in the end.

Brief Score:

India: 163 for 3 in 20 overs (Rohit Sharma 60; S Kuggeleijn 2/25)    

New Zealand: 156 for 9 in 20 overs (Ross Taylor 53, Tim Seifert 50; Jasprit Bumrah 3/12).

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News Network
June 11,2020

New Delhi, Jun 11: BCCI president Sourav Ganguly has indicated that this year's IPL could be conducted in empty stadiums, insisting that all possible options are being explored to ensure that the suspended event does take place despite the COVID-19 pandemic.

In a letter to all the affiliated units sent late on Wednesday after the ICC Board meeting, Ganguly seemed confident of an IPL this year despite its current status of being indefinitely suspended because of the raging pandemic, which has claimed more than 8,000 lives in India.

"The BCCI is working on all possible options to ensure that we are able to stage IPL this year, even if it means playing the tournament in empty stadiums," Ganguly wrote.

"The fans, franchises, players, broadcasters, sponsors and all other stakeholders are keenly looking forward to the possibility of IPL being hosted this year.

"Recently, a lot of players both from India and other countries, participating in the IPL have shown keenness on being part of this year's IPL. We are optimistic and the BCCI will shortly decide on the future course of action on this," the former India captain said.

It is widely speculated that the IPL is eyeing the October event if the T20 World Cup scheduled to be held in Australia at that time is postponed. The ICC has deferred a decision on the World Cup's fate until next month.

Ganguly also said that the BCCI is working on the domestic schedule while exploring various formats which would make tournaments like Ranji Trophy, Duleep Trophy and Vijay Hazare "competitive and feasible".

"Moving ahead, the BCCI is in process of planning the domestic competitions for the next cricketing season. We are working on various options and formats in our endeavour to ensure that various domestic tournaments are held, they stay competitive and participation feasible," said the former India captain.

"The BCCI will come up with more details in next couple of weeks," he added.

He also informed that BCCI is preparing a Standard Operating Procedure (SOP) for resumption of cricket in all state units to ensure medical safety of those involved.

The president also informed that the BCCI has made "all efforts to release funds/grants to its various members."

"Associations which have made proper submission of their accounts and funds utilization certificates have already received their grants," he said.

The other units will also receive their grants once they submit relevant documents, the president assured while informing that vendors have also been paid.

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