DDMC Buys Super Sports for USD500 Million to Build China's Integrated Sports Copyright Platform
Xu Wei
DATE:  Jul 13 2017
/ SOURCE:  Yicai
DDMC Buys Super Sports for USD500 Million to Build China's Integrated Sports Copyright Platform DDMC Buys Super Sports for USD500 Million to Build China's Integrated Sports Copyright Platform

(Yicai Global) July 13 -- Wuhan DDMC Culture Co. [SHA:600136] announced July 12 it plans to acquire a 100% stake in Super Sports Media Inc. for USD500 million (CNY3.4 billion).

After the acquisition wraps up, DDMC will tap into the sports copyright market, expand its presence in the sports sector and give play to the synergy of Super Sports Media and its existing sports business.

It intends to work with partners to build China's integrated sports copyright operating platform.

DDMC will acquire a 100% stake in Super Sports Media, a company registered in the Cayman Islands, and subscribe for Super Sports Media's newly-issued shares through its wholly-owned subsidiary DDMC Hong Kong, as well as setting up a joint venture with Suning Sports to work with partners to obtain copyright of top international sports events and obtain proceeds from the sale of sports copyrights, and advance sound development of a pay-per-view model and become leaders in the market to improve their competitiveness and profitability in the copyright market and enhance its sports industrial chain, it said.

Super Sports Media's 100% stake is valued at USD431.5 million and its newly-issued shares are assessed at USD68.5 million. Super Sports Media and its subsidiaries are collectively 'Super Sports'.

Super Sports achieved over CNY700 million in operating revenue, with CNY177 million in net profit attributed to the parent company's owners last year. It owns the all-media exclusive broadcasting rights to European Premier League games in mainland China and Macao (2010/2011 to 2018/2019 seasons) and new media copyrights and sponsorship rights to the European Cup (2018/2022).

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Keywords:   Wuhan Ddmc Culture Co.,Culture,Super Sports,MEDIA,M&A