Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
On April 11 2017, Wuhan DDMC Culture Co. Ltd. (DDMC) officially announced that it intends to purchase Super Sports Media Group so as to acquire 100% equity of Super Sports Media Inc..
Super Sports Media Group, co-founded by IDG Capital Partners and Eida Media Inc, obtained the exclusive broadcasting rights of the English Premier League from 2010/11 to 2018/19. However, Suning Sports has acquired the whole media rights on the Chinese mainland and in Macao from 2019 to 2022 at a cost of 72.1million Dollars (around 5 billion Yuan).
The project for this major assets restructuring is just a preliminary framework demonstrated by all the interested parties. The specific items and trading scheme have not yet been confirmed. Therefore significant uncertainties still remain.
Through the major assets reorganization DDMC plans to further improve the industrial chain for its sports business and hopes to promote its competitiveness in the sports industry.
DDMC bought Desports at a price of 82 million Yuan in August 2015, beginning its formal involvement in the Sports industry.
Source: Hengzou.com
Proofread by Sean O Diobhilin
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Related coverage
Espanyol is another possible takeover by Chinese company
07 May 2015
Doing Now raises RMB500 million
28 Sep 2017
Inter Milan seeking investment from China
16 Feb 2016
Four Chinese buyers eye Stellar Group
23 May 2016
Deng Yaping Aims to Raise 5 Billion Sports Industry Funds
01 Nov 2016
More from Yutang Sports
SportAccord's interview with Sarah Gregorius: proactive actions are necessary to tackle online abuse
28 Apr 2024
Expert insight | New changes on UEFA EUROs: growing maturity of Hisense and other Chinese brands
22 Jul 2024
Leading sports charity, Podium Analytics, announces Trusted Research Environment for Global Sport
11 Apr 2024
IWGA to confirm the World Games host
11 Apr 2024
SPORTACCORD 2024 INSIGHTS: Major Technology Trends Shaping Sports Sector
03 Jun 2024
Yutang Sports
loading...