Baofeng, Everbright add to China's sports bet

Chinese consortium buys a controlling stake in MP & Silva in a deal valuing the global sports media rights agency at $1 billion, according to one person familiar with the matter.

A Chinese consortium led by Beijing Baofeng Technology and China Everbright Securities has bought a controlling stake in sports media rights agency MP Silva, underscoring the country’s growing appetite for sports assets globally.

The deal for a 65% share holding values the Italian-owned firm at just over $1 billion, one person familiar with the matter told FinanceAsia.

MP Silva distributes sports programming to more than 200 broadcasters in 215 countries, including French Open tennis, Formula 1 racing, and leading European and US football league matches, according to its website.

Everbright Securities, a large...

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