New Delhi: The Competition Commission of India (CCI) on Wednesday approved the acquisition of the sports broadcasting business of Ten Sports by Sony Pictures Networks India Pvt. Ltd.
The fair trade regulator announced its approval in a posting on the microblogging site Twitter.
The Ten Sports network is currently held by two subsidiaries of Zee Entertainment Enterprises Ltd (ZEEL)—Taj Television Ltd, Mauritius, and Taj Television (India) Pvt. Ltd.
On 31 August 2016, ZEEL informed the BSE about the approval by board of directors for sale and transfer of Zee’s sports broadcasting business to Sony Pictures Networks in an all-cash deal worth $385 million.