Sony completes first phase of TEN Sports Network acquisition

With this, Sony Pictures Network India adds 5 TEN channels to its sports bouquet

Sony Pictures Networks India (SPN) and its affiliates have completed the first of a two-phase acquisition of the Zee Entertainment Enterprises Limited’s (ZEEL’s) TEN Sports Network from and its subsidiaries. 

Following the completion of this phase of the acquisition, SPN’s sports cluster expands to nine sports channels and will now include TEN 1, TEN 1 HD, TEN 2, TEN 3, and TEN Golf HD along with the existing channels Sony SIX and Sony Six HD, Sony ESPN and Sony ESPN HD. 

SPN CEO NP Singh said, “I am delighted that the teams from SPN and ZEE have completed this core phase of the transaction in good time. SPN is now equipped, better than ever, to offer its viewers premium sporting content with a sports portfolio that includes every major sport and many international as well as domestic leagues. We are now stepping into the integration process to facilitate a seamless transition.”

SPN and ZEEL entered the agreement in September last year. SPN agreed to buy ZEEL’s sports cluster under the brand TEN for $384 million.  

ZEEL Managing Director Punit Goenka said, “Great job done by the teams from SPN and ZEE in facilitating the closure of this phase of the transaction. I am confident that the TEN Sports Network will reach new levels of consumer engagement under the nurturing guidance of SPN. I wish them the best. I’ll be tuning in regularly.”

Certain other operations and assets will be included in the final phase of the acquisition, subject to certain closing conditions, which is expected to be completed in the next few months.