Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Youku Sports, part of the Alibaba Group, and PP Sports, a subdivision of Suning Group, have formed a joint venture with their respective business segments merging and restructuring.
According to a person familiar with the situation, the merger will officially be announced in July, with the majority of the joint venture held by Alibaba Group. It has been learned that the joint venture has already started its recruitment process.
An employee from PP Sports disclosed that the assets used by each employee are being tallied, including computers and that the HR department from Suning Group have been talking to commissioned students, those that will return to their hometown after their contracts expire, that if they choose to remain with PP Sports, they will no longer be part of Suning Group.
Yutang Sports believe that investing in sports IP and in the rights of sports IP is fundamentally different. Investing in the rights of sports IP is mainly comprised of broadcasting rights, and these broadcasting rights will expire some time in the future. This will be the biggest challenge faced by the newly formed joint venture.
Reference: LatePost
Proofread by Raymond Fitzpatrick
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Related coverage
Genius or reckless: who will be the last one smiling?
15 Jul 2019
PPTV signs exclusive multi-year deal with WWE
17 Jun 2016
Suning Sports with investment from Alibaba and Goldman Sachs to collaborate on Youku Sports
20 Jul 2018
30 Nov 2018
PPTV remains as exclusive “New Media Partner” for the 2018/2019 CSL season
02 Mar 2018
More from Yutang Sports
SPORTACCORD 2024 INSIGHTS: Paris 2024 here we come!
02 Jul 2024
Discover the SportAccord Summit sessions!
31 Jan 2024
Interview with Andreas Zagklis: to keep popularization of basketball with all-round strategy
08 Jul 2024
SportAccord calls for the power of sport to lead anti-abuse actions
17 Apr 2024
HealthAccord spotlights mental health and female athlete well-being
08 Feb 2024
Yutang Sports
loading...