Television

Sony calls off plans to buy in to Ten Sports

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2016/05/17/Untitled-1.jpg?itok=ncZKQ4m_

MUMBAI: Sony Entertainment Television (Set) India has called off its plans to buy a 50 per cent stake in Taj Television, the Dubai-based holding company that owns and operates Ten Sports. And the reasons for the breakdown in the talks, almost at the signing stage as it were, appear to be on the issue of valuation.

As per the information available with Indiantelevision.com, the "best price" that Sony was finally willing to value the channel at was $ 90 million while Taj Television was unwilling to go below $ 120 million.

What is surprising to many industry observers is that it was the vexed issue of valuation that had forced negotiations to drag on for over a year, and the general perception going round was that all contentious issues had finally been sorted out.

Another pertinent point is that, among all the various figures that have been thrown up in the media in regards to the valuation being attached to Taj Television, the lowest quoted has been $ 110 million. That Sony's offer price is much below even this price is the other intriguing aspect of this case.

When contacted as to the reasons for the breakdown off negotiations at this late stage, Set India CEO Kunal Dasgupta refused comment except to confirm that the deal was indeed off.

"We remain in discussions with various parties," was all Taj Television CEO Chris McDonald would offer when Indiantelevision.com contacted him in Dubai. 

Aside from Sony, Ten Sports, owned by Abdurrahman Bukhatir, has been in conversation with a number of parties including South African broadcaster Super Sports, Sahara One Media and Entertainment, Reliance-ADAG and Zee Telefilms.

Among the companies mentioned, Zee would likely have the most difficulty in working out any acquisition strategy in regards to Ten Sports because the channel is already locked in to a distribution deal with the rival Set-Discovery One Alliance that runs till October 2008.

Taj Television has mandated Ambit Corporate Finance to find a strategic investor. Ten Sports would require capital infusion even as the cricket properties it currently holds (Sri Lanka, West Indies and Pakistan boards) come up for renewal.

Taj Television is 100 per cent owned by Bukhatir Investments Limited, a UAE-based conglomerate with interests in banking, construction, real estate, trading, information technology, sports and broadcasting. Ten Sports is a sports channel which broadcasts in the Middle East, Pakistan, India, Sri Lanka, Bangladesh, Maldives, Bhutan and Hong Kong.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/15/mnx.jpg?itok=kkSouPMq
MNX to premiere supernatural fright flick, ‘Wish Upon’

MNX, the preferred movie channel of the millennials, will premiere, American supernatural horror film, ‘Wish Upon’ for the first time on Indian television.

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/15/hk.jpg?itok=_7gx18dv
Hill+Knowlton Strategies India wins communication mandate for Discovery India

After a competitive multi-agency pitch, Hill+Knowlton Strategies, one of India’s premier communications consultancies

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/15/hockey.jpg?itok=CCftHmln
Doordarshan now wants all matches of men’s hockey WC

Even as TV sports channels are wracking their brains as part of a public consultation to justify why proposed tweaking of rules relating to mandatory sharing of signals of sporting events is not a good idea, the Indian government has gone ahead to notify hockey World Cup for sharing with the...

Television TV Channels Sports
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/15/balaji.jpg?itok=osia3roz
Balaji Telefilms reports higher programming hours and better realisation

The Ektaa Kapoor-led Balaji Telefilms Ltd reported a consolidated profit from continuing operations of Rs 7.1 crore for the quarter ended 30 September 2018 (Q2 2019, quarter or period under review) as compared to a loss of Rs 22 crore for Q2 2018 and a loss of Rs 0.6 crore in the immediate trailing...

Television Production House Post Production
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/14/aaj-tak.jpg?itok=Wi61qSr1
3rd Sahitya Aaj Tak India’s largest Hindi Literature Festival promises a grander & a bigger show

Aaj Tak, India’s No. 1 Hindi news channel with over 25 crore viewers (Source: BARC, TG:2+,Mkt:HSM, Period: W29'18-W32'18,) kicks-off the third edition of its annual mega Hindi literature festival - Sahitya AajTak .

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/14/children.jpg?itok=0w-PSLPz
Excitement Tenfold as Nickelodeon India Brings a Week of fun to celebrate children’s day

The memories that we make as children always set path for the adult in us.  Nickelodeon, India’s leading kids’ entertainment franchise by Viacom18

Television TV Channels Kids
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/14/animal-planet.jpg?itok=GK2QBFXl
The Irwin Family -Terri, Bindi and Robert - come home to Animal Planet in ‘CRIKEY! IT’S THE IRWINS’ which premiers in India on November 15 at 9 PM IST

Lace up your boots because you’re about to embark on the journey of a lifetime with the family that’s bringing khaki back.

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/14/aib.jpg?itok=V7Hl7Z48
OBESITY AMONG DIABETICS ON THE RISE IN URBAN INDIA, new study finds

MUMBAI: A new study on type 2 diabetes (T2D) patients in India finds that obesity among diabetics is on the rise. The same study also revealed that majority of patients prefer to have fewer large meals as opposed to more frequent small meals which are more diabetes friendly The results are part of...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/14/powerpuff.jpg?itok=apUe6L69
Cartoon Network celebrates 20 years of heroic supremacy of The Powerpuff Girls in November

Cartoon Network, home to the three fabulous superhero sisters, Blossom, Bubbles and Buttercup rings in 20 glorious years of ‘The Powerpuff Girls’ this November. Cartoon Network India along

Television TV Channels Kids

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories