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Sony and Ten Sports reject takeover talk

Reports that media group Sony Pictures Networks India is set to acquire the Ten Sports operation of Indian pay-television operator Zee have been denied by both parties.

Indian newspaper the Economic Times, citing sources close to the matter, on Monday reported that SPN’s acquisition of Ten Sports would be worth around Rs20bn (€270.3m/$300m). The Times said negotiations between the two parties had been ongoing for “a couple of months”, and that a deal should be announced within the next three weeks.

However, a member of the senior strategy team at Sony told the Indiantelevision.com website: “There is nothing to comment (on). These all are false speculations and there is no basis to these reports.”

Ten Sports chief executive Rajesh Sethi added: “In the company, we keep talking and exploring various opportunities that are right for the organisation, but the discussion does not mean that it will go in that direction. The news is pure speculation.”

Ten’s sports rights properties include football’s Uefa Champions League and Europa League; cricket from the Pakistan Cricket Board, West Indies Cricket Board, Sri Lanka Cricket and Cricket South Africa; golf’s Ryder Cup and tennis grand slam the US Open.