ZEE Entertainment Enterprise Ltd is on the verge of selling its sports broadcasting business to rival, Sony Pictures Networks for a whopping Rs. 2000 crore.
In a development to our story earlier, ZEEL has informed the Bombay Stock Exchange that its in advance discussions with prospective buyers – without naming the company or the financials. It said, “We are at an advance stage of discussions for the sale of the sports business with potential buyers.”
If the news turns out to be true, this will mark the end of ZEEL’s sports business, with flagship network, Ten Sports being sold to the buyer. It will mean Star TV and Sony Pictures Networks will be the biggest players in the sports broadcasting sector.
An official announcement is expected on the sale this week.