zee-telefilms-acquires-stake-in-ten-sports

Zee Telefilms acquires stake in Ten Sports

IndiaÆs Zee Telefilms acquires 50% control of the Dubai-based television production and broadcasting company, valuing the target at $114 million.
Zee Telefilms, India's largest media company, has acquired a 50% stake in Dubai-based Ten Sports at a price which represents an enterprise value for Ten Sports of $114 million. The move simultaneously cements the acquirer's position in sports broadcasting and in Asia.

While making the announcement on November 13, Subhash Chandra, chairman of Zee Telefilms said The acquisition is an important step from Zee towards consolidation in the media industry. The acquisition of a stake in Ten Sports not only gives us a strong foothold in the arena of sports broadcasting across Asia but also strengthens our operations in the Middle East.

Zee Telefilms has called the purchase a ôgreat strategic moveö and said that...
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