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Sony Pictures Networks India and Zee Entertainment conclude merger agreement

Sony – Zee merger delayed

October 3, 2023
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Fujifilm Instax ME launches campaign for emerging Saudi music talent

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    Fujifilm Instax ME launches campaign for emerging Saudi music talent

    Fujifilm Instax ME launches campaign for emerging Saudi music talent

    Creative Media Authority and FilmGate partner to boost local production

    Creative Media Authority and FilmGate partner to boost local production

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    Sateliot commissions Alén Space to build five new satellites

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    Sateliot commissions Alén Space to build five new satellites

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    Red Sea International Film Festival opens early bird accreditation

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    Skandha Media Services collaborates with Warner Bros. Discovery

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    Egyptian action-comedy ‘Darwish’ to release in cinemas on July 17

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      Fujifilm Instax ME launches campaign for emerging Saudi music talent

      Fujifilm Instax ME launches campaign for emerging Saudi music talent

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      Trending Tags

      • broadcast
      • MENA broadcast
      • ConnecTech2019
    • Tech Features
      • All
      • CASE STUDIES
      • New Media
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      • Updates from FOMEX
      • Virtual Production Series
      Breaking free from the hardware cycle: Cloud collaboration in post-production

      Breaking free from the hardware cycle: Cloud collaboration in post-production

      Playing to win

      Playing to win

      The expanding role of AI in broadcast

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      SMF and FOMEX bring top industry leaders together in Riyadh – Part IV

      SMF and FOMEX bring top industry leaders together in Riyadh – Part I

      SMF and FOMEX bring top industry leaders together in Riyadh – Part III

      SMF and FOMEX bring top industry leaders together in Riyadh – Part II

      SMF and FOMEX bring top industry leaders together in Riyadh – Part II

      SMF and FOMEX bring top industry leaders together in Riyadh – Part I

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      Transforming the entertainment experience with tech

      Transforming the entertainment experience with tech

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        FOR-A’s award-winning HVS-Q12: A quantum leap in switcher design

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        Decoding the Ramadan Drama Phenomenon: What Makes a Winner?

        Reviving cultural identity through native storytelling in Abu Dhabi

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        Why it’s game on for broadcasters of live sport

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        • Lounge
        Sand, sweat and high stakes

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        Grass Valley scales up with software and IP workflows

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        Creating Captain Shedeed: A superhero with Arab roots

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        UAE Pro League flips the field

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        Bringing the wild to the Middle East

        Bringing the wild to the Middle East

        Shades of success

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      Home News Mergers/Acquisitions

      Sony – Zee merger delayed

      Staff Writer by Staff Writer
      October 3, 2023
      in Mergers/Acquisitions, News
      Sony Pictures Networks India and Zee Entertainment conclude merger agreement
      ShareTweetPostEmail

      Completion of the India merger pushed to the end of 2023.

      Sony Group has said that the completion of the India merger between Zee Entertainment Enterprises Ltd (ZEEL) and Culver Max Entertainment, which is Sony Pictures Networks India, will take a few more months. The much-awaited merger was previously expected by the end of September.

      Although several lenders of ZEEL, including IDBI Trusteeship, IDBI Bank, Axis Finance, JC Flowers Asset Reconstruction Co and Imax Corp, had raised objections around the merger, it was approved by the National Company Law Tribunal (NCLT) on August 10, 2023. One of the key conditions of the merger is that Zee’s MD Punit Goenka would continue as the MD and CEO of the merged entity.

      The merger was first announced in December 2021 and will bring together over 70 TV channels, two video streaming services (Zee5 and SonyLiv) and two film studios (Zee Studios and Sony Pictures Films India).

      Karan Taurani, SVP/research at brokerage Elara Capital, said: “The record date for a merger is usually given one week prior to delisting. However, there could be a marginal delay in filing closing precedents (CPs) of the merged entity. Subsequently, relisting may happen in the second week of December 2023 versus the second week of November”.

      Tags: featuredpostSonyZee Entertainment Enterprises Limited

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