DDMC announced in the afternoon of August 31st that they had completed the purchase of Super Sports, the current broadcast rights holder of the Premier League on Mainland China and Macao. Super Sports becomes a subsidiary of DDMC.
This purchase was first started in the early half of 2017 when DDMC valued Super Sports at USD500m.
After the purchase, Super Sports will continue its business in sports media rights purchasing and distribution. DDMC will integrate the business of Super Sports with its other sports businesses, including sports marketing, sports agency and sports stadium operations. They will develop the value of sports rights at a deeper level and explore more businesses around sports media rights such as merchandising, trophy tours and fan activities.
Super Sports is reported to have had CNY371m revenue and a CNY123m net profit. They have also collaborated with leading Chinese online streaming platform iQiyi to build a new company iQiyi Sports to stream sports content to audiences.
DDMC, on the other hand, are now equipped with subsidiaries of sports marketing (Desports) and sports media rights distribution (Super Sports). It will be worth paying attention to how successful the results would be.
Reference: East Money
Proofread by Raymond Fitzpatrick