Zee Sports, Ten Sports to run as separate entities: Subhash Chandra
14 November 2006
Chairman Zee Telefilms Subhash Chandra, says Zee Sports and Ten Sports will run as separate entities. He also plans to hike stake in Ten Sports post 2009 and the price for the balance stake in Ten Sports will be decided at a later date, reports CNBC-TV18.
CNBC-TV18 shares with domain-b its exclusive interview with Chandra:
Zee was bidding for the ICC global rights and so was Ten Sports. Should we read more into the fact that you have acquired Ten Sports at this juncture?
Don't you think it is much cheaper deal than buying the rights at $900 million?
Are you confirming that you bid $900 million and Ten Sports bid much less?
No, I am not confirming that. It was wrong reporting on part of a newspaper two days back since $900 million is an absurd number that anybody could bid.
We have bid a very sensible number although I cannot disclose that, the bid is likely to be opened on Friday.
Regarding the Ten Sports deal. Ten Sports is a channel, and other than the times when there is live sports channel, is the number one sports channel amongst all sports channels in India. It has got the telecast rights from the Pakistan Cricket Board, the Sri Lanka Cricket Board as well as West Indies Cricket Board. With the Sri Lanka Cricket board they also have the matching rights post 2008 when the rights expires.