VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023 18:33
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 resounding success for the Global Sports Week and Viva Technology collaboration
21 Jun 2023 12:27
Related coverage
Suning kicked off Arctic Ocean Voyage Campaign
13 Aug 2015
PPTV welcomes football commentary guru Zhang Lu
20 Nov 2017
Suning leads RMB 32m investment in sport data company
03 May 2016
Yutang Weekly: What happened in the Chinese sports market (7/22-7/28)
28 Jul 2019
The Souche Automotive Services Co., Ltd Reaches Strategic Partnership with Alibaba Sports
21 Aug 2020
More from Yutang Sports
Discover the SportAccord Summit sessions!
31 Jan 2024
SportAccord announces first speakers - World Sport & Business Summit 2024
06 Dec 2023
Squash will be significantly boosted by LA28 inclusion
17 Apr 2024
Future of Sport: a resounding success for the Global Sports Week and Viva Technology collaboration
21 Jun 2023
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023
Yutang Sports
loading...