Sony Pictures to acquire sports channels of Zee for 385 million US dollar
Posted on: 01 Sep 2016 18:21:17
01 September 2016 Current Affairs: Sony Pictures Networks India has announced the acquisition of sports broadcasting business of Zee Entertainment for 385 million US dollar in an all-cash deal on 31 August 2016.
Zee's TEN Sports channels being acquired include TEN 1, TEN 1 HD, TEN 2, TEN 3, TEN Golf HD, TEN Cricket, TEN Sports. These channels operate in several countries including the Indian sub-continent, Maldives, Singapore, Hong Kong, Middle East, Caribbean.
TEN Sports holds cricket rights in South Africa, Pakistan, Sri Lanka, West Indies and Zimbabwe. It also holds the rights for world wrestling, some football leagues, WTA and ATP tennis events, golf tours, Asian and Commonwealth Games athletics, motor Sports and cycling events, including Tour de France.
Sony Pictures Networks : Sony Pictures Networks India Pvt. Ltd. (SPNI) is an Indian company, which handles Sony Pictures' diversified interests in India. It was previously known as SET India Pvt. Ltd and then Multi Screen Media Pvt. Ltd.
The group now includes a motion pictures corporation (MSM Motion Pictures), television distribution business (MSM Media Distribution) and digital entertainment business.Sony Entertainment Television and SAB TV are the main brands of SPNI although it owns many other brands and companies under the umbrella Sony brand.
On 3 November 2015, MSM was renamed Sony Pictures Networks India Private Limited after 21 years.
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