Top Story

e4m_logo.png

Home >> Advertising >> Article

Zee acquires 50 per cent stake in Ten Sports

14-November-2006
Font Size   16
Zee acquires 50 per cent stake in Ten Sports

In a major development in the television industry, Zee Telefilms Ltd and Taj TV Ltd have announced a strategic move whereby Zee has agreed to acquire a 50 per cent stake in the Dubai-based sports channel, Ten Sports. The investment is based on an enterprise value of $114 million (Rs 513 crore).

This reinstates Zee’s seriousness and belief in the genre of sports broadcasting. Ten Sports is the leading sports channel in India with the highest viewership among all sports channels. Ten Sports has the rights to leading cricket properties from the Pakistan Cricket Board, Sri Lanka Cricket Board and the West Indies Cricket Board. These rights combined with the BCCI’s neutral venue rights that Zee Sports has, creates the single largest repertoire of cricket programming.

Among other sports, Ten Sports also has rights to the UEFA Champions League, WWE, US Open, Hockey World Cup, which rate amongst the most popular programmes in India. Zee Sports also has the rights to Indian football, Davis Cup, WTA and Italian Serie A soccer.

Zee and Ten Sports will be able to leverage these properties to their maximum potential across both platforms. Ten Sports is headquartered out of its state of the art office complex in Dubai.

On the acquisition, Subhash Chandra, Chairman, Zee Telefilms, said, “This acquisition is an important step for Zee towards consolidation in the media industry. We are confident that this will add significant value for the shareholders of Zee. The acquisition of a stake in Ten Sports not only gives us a strong foothold in the arena of sports broadcasting across Asia but also strengthens our operations in the Middle East.”

He further said, “I have known Abdul Rahman Bukhatir for sometime now and have the greatest respect for him as a businessman and his leadership of one of the most successful conglomerates in the Middle East, more particularly the achievements that he has had in the areas of manufacturing, retail, construction. I admire him for the way he has popularised cricket in the Middle East. I am certain that our joint partnership will result in a mutually beneficial relationship.”

Tags

Kranti Gada joined the family business at Shemaroo in 2006 after a successful stint of over two years in marketing at Pepsi Co. She has been associated with the company for 12 years.

Exchange4media interacted with Jaspreet Chandok, Vice President and Head (Fashion) , IMG Reliance Pvt. Ltd on seamless brands integrations planned for Lakme Fashion Week, walking tall despite blazing trails like GST, demonetization and being a part of the larger cultural space

Their strategy to educate the consumers to make well informed decisions at all stages has worked out well.

Bobby Pawar, MD, CCO - South Asia, Publicis India, talks about his idea of chilling out

The Managing Editor of Public TV gives insights about the struggle the Kannada news channel endured during its nascent stage and what led them forward to the second position that they occupy right now in what is a rather crowded marketplace

Azhar Iqubal, co-founder of Inshorts, expresses his views on how shorter form of content is preferred more over the in-depth stories and has also focused on how mobile has become the effective medium to target consumers

The beauty of the internet business is that as your cost curve flattens, your revenue curve keeps growing up and that's why the valuations are so high, said Ashish Hemrajani, Founder-CEO, BookMyShow

While domestic and international brands are competing for a bigger pie of the growing digital content market, Reliance Jio with its Jio Studios has added a new dimension to this competition.

At the Ad Club Knowledge series event in association with Hindustan Times presented an interactive session with Chandramouli Venkatesan, CEO (special projects) - ‎Pidilite Industries Limited, on his b...