Sony Entertainment
Ex-CEO of Sony thrilled by the $80 million facilitation fee
Submitted by Keshav Seth on Wed, 04/28/2010 - 06:46.
The ex-CEO of Sony Entertainment has recently said that he was surprised to see that Multi Screen Media has paid a whopping $80 million to World Sports Group as facilitation fee as it was not decided in the contract. According to Gupta, the contract had an extra break-up fee of $25 million after the fifth season ends wherein it had the first right of refusal as far as telecasting the sixth season was concerned.
Notably, Sony had bagged the rights for the first five years for $300 million while WSG had opted to bag rights for another five years for a consolidated $600 million.
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