Sony Pictures Entertainment, which is revamping its media content delivery businesses, will pay $385 million for TEN Sports, the sports broadcasting business of India’s Zee Entertainment Enterprises Ltd., Reuters reports.
“TEN Sports holds broadcast rights to major cricket boards in South Africa, Pakistan, Sri Lanka and West Indies,” the story reports. “It also holds rights for football’s UEFA Champions League, Europa League, French League and English Football Cup among other sports.”
N.P. Singh, chief executive of Sony Pictures Networks India, said in a statement: “The acquisition of TEN Sports Network will strengthen (Sony Picture Networks’) offering for viewers of cricket, football and fight sports, complementing our existing portfolio of international and domestic sporting properties.”
Reuters adds: “Sony, which holds broadcast rights for the cash-rich Indian Premier League Twenty20 cricket tournament, has also won the rights for the FIFA World Cup to be held in Russia in 2018.”