DDMC to purchase Super Sports

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