Sony Pictures to acquire sports channels of Zee for 385 million US dollar

Sony Pictures Networks India on 31 August 2016 announced the acquisition of sports broadcasting business of Zee Entertainment for 385 million US dollar in an all-cash deal.

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.

About 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.

Now get latest Current Affairs on mobile, Download # 1  Current Affairs App