"We felt Ten Sports is a good fit to our sports business. Between what (sport properties) we have and what it (Ten Sports) brings, it makes for a very strong sports portfolio," CEO NP Singh told ET, ..
CEO NP Singh told ET, maintaining the price was a fair one, although some analysts considered it high. The price reflects a control premium as well as a four-year, non-compete pledge.
ZEE had paid $107 million (Rs 500 crore) in installments during 2006-11 to acquire Ten Sports from Dubai-based Abdul Rahman Bukhatir's Taj Group. Its accumulated losses from the sports business are pegged at Rs 600-640 crore.
ET NOW REPORTED THE NEWS ON 8 AUGUST
