HUMNL authorized to explore feasibility of Tower Sports, Sphere Ventures’ potential acquisition
MG News | October 26, 2022 at 03:37 PM GMT+05:00
October 26, 2022 (MLN): The Board of Directors (BoD) of Hum Network Limited (PSX: HUMNL) on Wednesday authorized the management to explore the feasibility of a potential acquisition of Tower Sports (Private) Limited and Sphere Ventures (Private) Limited.
Tower Sports is currently holding the landing rights licenses of Ten Sports and Ten Sports 2. It is also responsible for overseeing the sales and distribution of both channels.
Meanwhile, Sphere Ventures (Private) Limited deals in kids’ content.
Furthermore, the management has also been authorized to appoint advisors and consultants for evaluating the feasibility, including due diligence and valuation, for final approval of the BoD.
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