The Mumbai bench of the NCLT had last week recalled its order passed on August 10, 2023, in which it had approved the merger of Zee Entertainment with Sony Pictures Networks India
Both Nifty and Nifty Midcap might be trading very close to their fair value based on likely FY23 earnings. Any upside from the current levels would depend on the higher visibility of FY24 earnings.
There has already been lots of foreign capital flowing into the sports sector which also brought in a wave of consolidation in the sports broadcasting space.
SPN also has the broadcast rights for the league across Sri Lanka, Pakistan, Bangladesh, Nepal, Bhutan, Afghanistan and Maldives.
The viewership of IPL's 9th edition will continue to be strong with revenues going up 10-15 percent. This time around revenues are likely to be to the tune of Rs 1200 crore overall, says Abneesh Roy, Associate Director, Edelweiss Securities.
"Sports is the biggest focus for us," Sony Pictures Network India Executive VP and Business Head (Sports) Prasana Krishnan told PTI.