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Report: South Korean station OCN pays big money for PRIDE TV

By Zach Arnold | December 27, 2006

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Correspondent Yeo Jong-Hoon is reporting that Orion Cinema Network (OCN – cable/satellite) has purchased the rights to air PRIDE exclusively on South Korean cable & satellite TV, plus a non-exclusive South Korean IPTV distribution rights package totalling 11.8 billion won (around $12 million USD). The contract starts in 2007 and expires on May 30, 2011.

More details on the deal: The announcement was made to KOSPI (Korea Composite Stock Price Index) investors, in which OCN didn’t buy the rights directly from PRIDE but rather paid for the rights from IB Sports. IB Sports released the news publicly yesterday. Here is a Money Today report (in Korean) about the transaction.

Topics: All Topics, Media, MMA, PRIDE, Zach Arnold | 22 Comments » | Permalink | Trackback |

22 Responses to “Report: South Korean station OCN pays big money for PRIDE TV”

  1. PizzaChef says:

    What are they getting yearly? What initial reports are there?

  2. Stu says:

    Korea seems to be the future for PRIDE.

  3. Nick says:

    Rights till 2011? So Pride isn’t dead after all?

  4. Cymen says:

    The original article speaks of 118 billion, meaning Pride gets 10 times that amount of money.

  5. TorontoMike says:

    Hopefully this is the start of a turnaround for Pride.

  6. BSP says:

    Cymen says:
    “The original article speaks of 118 billion, meaning Pride gets 10 times that amount of money.”

    Yes, $12 million actually seems a bit low for a 4 year contract. And the original does say 118. So where does the 11.8 come from?

  7. Lynchman says:

    Cymen Says:

    December 28th, 2006 at 5:25 am
    The original article speaks of 118 billion, meaning Pride gets 10 times that amount of money.

    —————————————————–
    What oringinal article? I used alta vista translator and it came up as 11.8 billion.

  8. Lord Grey says:

    The original article says 118 “ohk.” 1 “ohk” = about $100,000.

  9. Preach says:

    The numbers are accurate, Zach only put the point in the wrong spot (though his exchange rate was right).

    It’s 118 billion won, which at the current rate amounts to 12.8 mio US-$ (9.8 mio Euro). Not exactly a good deal, considering it’s the total amount for almost 4 years. But then, the deal was done through a middleman in IB Sports, which could mean that OCN struck a pretty good bargain.

  10. mmaguru says:

    cymen thats a bunch of bs preach is correct also the article states they didn’t buy directly from pride.its possible pride wont see any of that money

  11. mmaguru says:

    the fact that pride didn’t even post this on thier website but rather IB sports releasing the info tells me pride has little to gain here and is more than likely in debt with IB sports

  12. Lord Grey says:

    Actually, the numbers in the article are accurate and the point is in the correct spot. 11.8 billion won = $12.7 million dollars according to today’s exchange rate.

    Also, I don’t think there’s anything from this article indicating that Pride is in debt to IB Sports. What’s more likely, I think, is that Pride hired IB Sports to sell their TV rights in Korea and this deal is what they came up with. I’d bet that Pride is getting the lion’s share of this money, though IB Sports certainly would get a percentage, too.

    This means, I guess that XTC will no longer be able to air Pride events. Does anyone know what they were paying Pride for broadcast rights? Also, does anyone know what IPTV is?

  13. YEO Jong Hoon says:

    They said it was 118 OHK Won.

    1 dollar/USD = 928 Won (today’s exchange rate)

    so,

    11,800,000,000 won (118 OHK Won, 11.8 Billion Won)

    = 12,707,301 dollar (12.7 Million Dollar USD)

    – News article Link :

    http://www.mydaily.co.kr/news/read.html?newsid=200612271456492260

    http://www.inews24.com/php/news_view.php?g_serial=240419&g_menu=022600

  14. Preach says:

    Just a quick question, but what does OHK stand for? I haven’t heard that term before.

  15. YEO Jong Hoon says:

    Preach //

    OHK(ì–µ) is just korean’s term to count number like billion, million, thousand.

    E.g) Here’s 1,000. American call this as “One thousand”(in English).
    But Korean call it as “Chun”(in Korean).

    1 ì–µ(OHK) = 100,000,000 = 100 million.

  16. Preach says:

    I figured something like that, but most sites that deal with korean numbers and monetary terms didn’t feature OHK, and the only thing i came up with (apart from people named OHK) was a website called “Our honorable Korea”.
    Thanks for clearing that up 😉

  17. Todd says:

    *Due to the positive nature of this news for PRIDE Zach Arnold was unavailable for comment

  18. Zach Arnold says:

    *Due to the positive nature of this news for PRIDE Zach Arnold was unavailable for comment

    I was so waiting to see Choi Hong-Man fight on the PRIDE NYE card… Oh, wait…

  19. Preach says:

    Perhaps you should learn to properly read first, Todd, because then you would’ve noticed that Zach wrote this oh so overly positive news, and therefore didn’t have to comment on it any further….

  20. JThue says:

    An anti-PRIDE spin would have been to mention in the report that this hardly appears to be anywhere near the saving grace for PRIDE’s big time status. No such thing was mentioned. Thumbs up.

  21. Zeus says:

    Zach Arnold Says:

    December 28th, 2006 at 10:27 pm
    *Due to the positive nature of this news for PRIDE Zach Arnold was unavailable for comment

    I was so waiting to see Choi Hong-Man fight on the PRIDE NYE card… Oh, wait…

    As professional as always eh big guy…is it PRIDE’s fault that FightSport.com reported this news??? I guess its their fault when every fanboy website that gets something wrong!!!! DEATH TO PRIDE.

    GET A LIFE.

  22. […] Sherdog: Ed Fishman interview (note the comment about Sakakibara’s future with the company and no reference to the alleged real boss, Ishizaka. And in regards to Gross’s question about the Korean TV station paying more money for PRIDE programming, that was a TV network-to-TV network transaction, not a network-to-PRIDE transaction.) […]

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