BREAKING NEWS

Hum Network Eyes Acquisition of Ten Sports and Sphere Ventures

Hum Network’s board of directors has given its green signal to the company’s management to explore the feasibility of a potential acquisition of Ten Sports and Sphere Ventures.

According to the stock filing, the board has asked the management to explore the feasibility of a potential acquisition of Tower Sports Pvt Limited, a company that currently holds the landing rights licenses of Ten Sports and Ten Sports 2, and it is responsible for overseeing its sales and distribution of these two channels.

Also, the management was authorized to explore the feasibility of a potential acquisition of Sphere Ventures, which produces Kids’ content for TV channels.

Hum Network’s board of directors has given its green signal to the company’s management to explore the feasibility of a potential acquisition of Ten Sports and Sphere Ventures.

According to the stock filing, the board has asked the management to explore the feasibility of a potential acquisition of Tower Sports Pvt Limited, a company that currently holds the landing rights licenses of Ten Sports and Ten Sports 2, and it is responsible for overseeing its sales and distribution of these two channels.

Also, the management was authorized to explore the feasibility of a potential acquisition of Sphere Ventures, which produces Kids’ content for TV channels.

The management has been asked to hire consultants and advisors for carrying forward the next step of this plan by doing feasibility, evaluation, and due diligence of these companies for the final approval of the board, the stock filing further stated.

Hum Network is currently broadcasting Hum TV, Hum Sitaray, Hum Masala, and Hum News in Pakistan. In the financial year 2021-22, the group recorded its all-time high profit of Rs. 1.3 billion.

Hum Network Limited was incorporated in Pakistan on February 25, 2004, as a public limited company under the repealed Companies Ordinance of 1984. The company’s principal business is to launch transnational satellite channels and aims at presenting a wide variety of cultural heritage.

Source: Pro Pakistani