(Yicai Global) Sept. 19 -- Hubei-based media company Wuhan DDMC Culture Co. [SHA:600136] has denied reports that it has acquired Leshi Holding Beijing Co.'s sports subsidiary LeTV Sports Culture Develop Beijing Co., also known as LeSports.
News outlet Sohu Technology reported on Sept. 16. that a deal between DMCC subsidiary Desports Group and LeSports was very close to completion, with the parent company suspending shares on Sept. 12 due to major upcoming events.
DDMC has held close ties to LeSports after bought its key client Super Sports Media Inc., a broadcaster of English Premier League soccer, for USD500 million in July. Neither DDMC or Desports have never made moves to acquire LeSports, the parent company clarified on Sept. 17.
LeSports, established in 2014, mainly broadcasts soccer, basketball, tennis and golf events. It recently lost broadcasting rights to a number of soccer leagues and tennis competitions due to a cash crunch at Leshi Holding.