Premier League's Chinese TV Rights Holder LeTV To Rebrand As LeSports

LeTV Sports & Technology, the Chinese business that last month won exclusive live broadcasting rights for the Premier League in Hong Kong for three seasons from '16-17, "is to rebrand," according to David Owen of INSIDE WORLD FOOTBALL. LeTV VP of Strategy Yu Hang said that the company "would be known as LeSports," in keeping with the existing LeTV website, www.lesports.com. Yu indicated the launch of the new identity is likely to come next month, when the company expects to try to raise $500M. He said that "the company had raised" around 1B yuan ($150M) in April. Yu said the LeTV management team currently owns around 21% of the company, "while the biggest outside investors are Alibaba and Wanda with about 10% each" (INSIDE WORLD FOOTBALL, 10/19).