Digital streaming service LeSports has sold on its Fifa World Cup 2018 rights in Hong Kong at a significant discount as it plans to cease operations in the territory.
Aggressive Chinese OTT operator LeSports has cash-flow problems, resulting in delays to payments for many of its deals.
National Basketball Association media rights soared in value in Hong Kong by more than 500 per cent this week as LeSports displaced incumbent rights-holder PCCW.
International sports broadcaster Eurosport recovered a third of its spend on the 2016 US Open in Asia from a deal with LeSports in Hong Kong.
Chinese internet company LeTV Sports’s acquisition of English Premier League rights in Hong Kong is indicative of the company’s international ambitions.
The Hong Kong Premier League agreed a deal with free-to-air broadcaster ATV earlier this month, just days before the kick-off of the league’s inaugural season.
Pay-television platform i-Cable paid a significant increase to retain rights amid stiff competition for the Uefa Champions League in Hong Kong.
The acquisition last week by Hong Kong broadcaster TVB of the rights to the 2016 Olympic Games underlines the determination of the broadcaster to protect its dominant position in free-to-air television while making inroads into the pay-television market.
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