SPORTACCORD 2024 INSIGHTS: Touchdowns, Home Runs and Slam Dunks
12 Jun 2024 15:50
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
Interview with Andreas Zagklis: to keep popularization of basketball with all-round strategy
08 Jul 2024 16:14
Interview with Yiannis Exarchos: to narrate Olympic story in new ways and promote positive values
01 Jul 2024 14:40
Related coverage
Chinese streaming platform Youku obtain 2018 FIFA World Cup Media rights
29 May 2018
PPTV remains as exclusive “New Media Partner” for the 2018/2019 CSL season
02 Mar 2018
Alipay sponsor China women’s football with 1 billion RMB
05 Jul 2019
Ping An Insurance launch youth football training project in Jiangsu
28 Aug 2018
Bundesliga International and PP Sports arrange Klinsmann visit to China
16 Apr 2019
More from Yutang Sports
SPORTACCORD 2024 INSIGHTS: Touchdowns, Home Runs and Slam Dunks
12 Jun 2024
Hisense Named Official Partner of FIFA Club World Cup 2025
01 Nov 2024
Interview with Andreas Zagklis: to keep popularization of basketball with all-round strategy
08 Jul 2024
SPORTACCORD 2024 INSIGHTS: Paris 2024 here we come!
02 Jul 2024
Expert insight | New changes on UEFA EUROs: growing maturity of Hisense and other Chinese brands
22 Jul 2024
Yutang Sports
loading...