Zee TV buys 50% in Dubai’s Ten Sports
India’s largest listed media firm, Zee Telefilms Ltd., said on Monday it had bought 50 percent in Dubai-based Taj Television’s Ten Sports channel for an undisclosed sum.
Zee said its all-cash purchase was based on an enterprise value of $114 million for Taj Television. The financial statements of the Abdul Rahman Bukhatir-owned Taj Television would be consolidated in Zee’s books, Zee said in a statement.
Taj TV is expected to have an average annual revenue of $50 million for the next three fiscal years, Zee said.
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