| "Sony is in talks with Ten to buy roughly a 10 per cent stake in the latter. Other companies too are talking to Ten Sports. While Sony would have a sports channel in its bouquet, Ten would benefit from Sony's stronger distribution network," said a source close to the development. |
| The valuation of the deal could not be ascertained. |
| Ten Sports is currently part of the Sony-Discovery bouquet and has been on the lookout for getting in private equity for a couple of years now. It was believed that Zee was in talks earlier for a similar equity deal. |
| When contacted, Craig McDonald, chief executive officer, Taj Entertainment Networks, declined to comment on specifics. |
| "We have been in talks with a large number of companies for strategic partnerships, but nothing has materialised so far," he said. Kunal Dasgupta, chief executive officer, Sony Entertainment Television, labelled the news as speculative. If the deal were to go through, not only would Ten be marketed better through Sony's strong distribution outfit, but also add substantial financial muscle, explained an entertainment expert. |
| For Ten, this could mean a surge in both subscription and advertisement revenues. For Sony, it would mean an alternative platform to broadcast its cricket properties. Currently, Sony has to substitute its general entertainment content with sports content for a tournament, the expert added. |
| Ten Sports, launched on 1 April, 2002, had shot to fame when it bagged the rights to broadcast the football World Cup in the Indian subcontinent. Taj Television Ltd, headquartered in Dubai Media City with five offices across the sub-continent, was established in January 2001. |
| Taj Entertainment is owned by Bukhatir Investments Limited, a UAE-based conglomerate with interests in banking, construction, real estate, trading, information technology, sports and broadcasting. |
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