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Sony Pictures Networks to buy Zee Entertainment Enterprises

Staff Writer | August 31, 2016
India's Zee Entertainment Enterprises will sell its sports broadcasting business to Sony Pictures Networks for $385 million.
Sony Pictures Networks
Acquisition   $385 million to spread in major cricket markets
TEN Sports holds broadcast rights to major cricket boards in South Africa, Pakistan, Sri Lanka and West Indies. It also holds rights for football's UEFA Champions League, Europa League, French League and English Football Cup among other sports.

"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.