New Delhi, Feb 28: Sony Pictures Networks India (SPN) and its affiliates have completed the first phase of a two-phase acquisition of TEN Sports Network from Zee Entertainment Enterprises Limited (ZEE) and its subsidiaries. Sony Pictures Networks India (SPN), (formerly Multi Screen Media Private Ltd.), is a subsidiary of Sony Corporation which owns and operates the Sony Entertainment network of television channels.
Following the completion of this phase of the acquisition, SPN’s cluster of nine sports channels will now include Sony SIX and Sony Six HD, Sony ESPN and Sony ESPN HD, TEN 1, TEN 1 HD, TEN 2, TEN 3, and TEN Golf HD. 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.
Punit Goenka, Managing Director, Zee Entertainment Enterprises Limited 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.”
NP Singh, CEO, Sony Pictures Networks India 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.”
Sony Pictures Networks India is in its 22nd year in India. As a leading television network in India, SPN comprises of 22 channels including Sony Entertainment Television (SET), one of India’s leading Hindi general entertainment television channels. Zee Entertainment Enterprises Ltd., is one of the leading global content company. With an extensive content library housing over 222,000 hours of television content and rights to more than 3,818 movie titles from foremost studios and of iconic film stars, ZEE entertains over 1 billion viewers across 171 countries. ZEE has a strong presence across the media and entertainment value chain including Broadcasting, Films, Digital, Theatre, LIVE Events & Talent. ZEE also operates multiple digital offerings like Ditto TV, OZEE and India.com.