To Sony Pictures Network India
Zee Entertainment Enterprises announced that the Company and Sony Pictures Network India (SPNI) have mutually concluded the closure of the 2nd phase of the transaction for sale of Sports Broadcasting Business upon receipt of consideration of USD 36.32 million from SPNI.In February 2017, the Company had completed the 1st phase of the transaction upon receipt of USD 330 million out of the total consideration of USD 385 million.
The adjustment in the consideration amount inter alia is mainly consequent to retention of a lease hold immovable property at Dubai (which earlier formed part of the transaction) by Taj TV, Mauritius and certain working capital adjustments of the Sports business as per the terms of agreement.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app