DDMC buys Super Sports for US$500m

July 12: The Wuhan-based sports and entertainment firm DDMC has agreed to buy Super Sports Media, the broadcast rights holder of the English Premier League (EPL) in China.

This deal, which is worth about US$500 million (RMB 3400 million), will enable DDMC to grab the EPL broadcast rights in China until the end of the 2018/2019 season.

Super Sports, co-founded by IDG Capital Partners and Edia Media Inc, has been streaming the English games in mainland China and Macau for the past seven years. However, in 2016, the Chinese e-commerce giant Suning-backed PPTV acquired a three-year EPL content rights from 2019 onwards.

DDMC, which has business in marketing and agent services and other sports investments, set up a joint venture last month with Suning to manage foreign soccer rights in China.

The integration of these two Chinese sports businesses will promote the development of a pay-per-view model in China and contribute to the country’s competitiveness in the international market.

Source: 163

Proofread by Linda Barouk