Breaking News, Punit Goenka, Sony Pictures Networks India, Television, Zee Entertainment

Sony Pictures Networks India & Zee Entertainment Set For Merger

Sony Pictures Networks India (SPNI) and Zee Entertainment Enterprises are finalizing a merger that would create a giant combined entity in the Indian broadcasting scene.

The two parties have entered into an exclusive, non-binding term sheet to merge both companies’ linear networks, digital assets, production operations and program libraries. SPNI will hold a majority stake in the combined entity, with ZEEL Managing Director & CEO Punit Goenka set to lead the merged company.

The new company will be publicly listed, as Zee is now. The move will leave both parties better suited to lead the consumer transition from traditional pay TV into the digital future, they said.

SPNI will invest growth capital of USD $1.6BN at closing to enhance the combined company’s digital platforms across technology and content, also giving it the finance to also bid for major sports rights.

There will now be 90 days for mutual diligence and to create negotiate definitive agreements. The deal will need regulatory third-party approvals to clear.

Products You May Like

Articles You May Like

15 Valentine’s Gifts For Your Pets That Are Paws-itively Purrfect
10 Real-Life Evil Scientists Who Experimented on Humans
Woody Harrelson To Host ‘Saturday Night Live’ For Fifth Time
Super Bowl Movie Trailer Spots Will Include ‘The Flash’, ‘Fast X’, ‘Transformers’ & ‘Ant-Man’
Spring 2023 Is All About Standing Out

Leave a Reply

Your email address will not be published. Required fields are marked *