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Sony Pictures Networks India’s proposal to invest in ZEEL-owned Taj Television, has been approved by India’s Competition Commission.
Taj TV’s ‘Ten Sports’ portfolio of sports channels is the prize that Sony is after.
The scheme sees ZEEL and Sony creating Aqua Holdings, established in August 2016, to carry out the investment whereby Sony India’s Competition Commission has approved the scheme, and this means the acquisition of 100 per cent shareholding of Taj India, and the acquisition of the sports broadcasting business from Taj Mauritius and the subsequent merger of Aqua Holdings into Sony.
The merged businesses will have immense clout in terms of sports coverage, including most major cricket boards, wresting, football, golf, athletics and cycling.