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Sony Pictures Networks India to acquire Ten Sports for $385 Million
Sony Pictures Networks India (SPN) and its affiliates have entered into definitive agreements to acquire TEN Sports Network from Zee Entertainment Enterprises Ltd (ZEE) and its subsidiaries for $385 million. The official announcement for the same was made on Wednesday.
Punit Goenka, managing director, Zee Entertainment Enterprises called it as an overhaul for Zee enterprises. He also called it a landmark deal and a step towards a strategic portfolio shuffle as Zee grows its general entertainment business both in the domestic and overseas markets.

"While we have grown our sports business over the last 10 years through acquisition of content at competitive prices, our focus now is on transforming ourselves into an all-round media and content company comprising of five verticals - broadcast, digital, films, live events and international business..., while I have always been proud of our sports business l strongly believe that Sony will add more value to it by taking it to even greater heights. I wish them all the success," said Punit Goenka as reported by Economic Times.

The acquisition is pending at the regulatory approval stage. As the acquisition completes, SPN will become one of the add South Asia's leading sports network channels.

Commenting on the same, N.P. Singh, chief executive, SPN, said, "I welcome TEN Sports to the Sony family. 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."

The TEN Sports channels that have been 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, the Middle East and the Caribbean.

It holds broadcast rights to major cricket boards including South Africa, Pakistan, Sri Lanka, West Indies and Zimbabwe.

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