Sony Pictures Networks to buy Zee Entertainment EnterprisesStaff Writer | August 31, 2016
India's Zee Entertainment Enterprises will sell its sports broadcasting business to Sony Pictures Networks for $385 million.
Acquisition $385 million to spread in major cricket markets
"The acquisition of TEN Sports Network will strengthen offering for viewers of cricket, football and fight sports, complementing our existing portfolio of international and domestic sporting properties," N.P. Singh, chief executive of Sony Pictures Networks India, said in a statement.
Zee's sports broadcasting business had revenues of 6.31 billion rupees ($94.21 million) and a loss of 372 million rupees for fiscal year 2016. ■