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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 (Sony
Picture Networks') 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.
Sony, which holds broadcast rights for the cash-rich Indian
Premier League Twenty20 cricket tournament, has also won the
rights for the FIFA World Cup to be held in Russia in 2018.
Analysts have said that Zee Entertainment, which lacked a
sizable presence in the sports category, will see a jump in
earnings in the next two fiscal years as it sells off the
money-losing venture.
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, according to a company statement.
($1 = 66.9750 Indian rupees)
(Reporting by Promit Mukherjee; Editing by Sunil Nair)
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