Sony Pictures Acquired Zee Entertainment’s TEN Sports Network
Zee Entertainment Enterprise (ZEEL) today said it has completed two-step sale of its sport business, TEN Sports Network, to Sony Pictures and received USD 36.32 million (about Rs 232 crore) in the second phase.
In August last year, ZEEL had announced it would sell its sports channel Ten Sports to Sony Pictures Networks for USD 385 million in an all cash deal.
The company and Sony Pictures Network India (SPNI) has "mutually concluded closure of transaction upon receipt of remittance of consideration of USD 36.32 million from SPNI", the company said in a BSE filing.
ZEEL had in February completed the first phase of the sale for USD 330 million.
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