Singapore markets closed
  • Straits Times Index

    +9.05 (+0.29%)
  • Nikkei

    +517.70 (+1.81%)
  • Hang Seng

    +368.37 (+1.48%)
  • FTSE 100

    +26.32 (+0.37%)

    +4,482.76 (+7.79%)
  • CMC Crypto 200

    +57.32 (+4.07%)
  • S&P 500

    +33.11 (+0.75%)
  • Dow

    +382.20 (+1.09%)
  • Nasdaq

    +73.91 (+0.50%)
  • Gold

    -29.80 (-1.66%)
  • Crude Oil

    +1.35 (+1.66%)
  • 10-Yr Bond

    +0.0570 (+3.75%)
  • FTSE Bursa Malaysia

    +5.76 (+0.36%)
  • Jakarta Composite Index

    +7.22 (+0.11%)
  • PSE Index

    +30.35 (+0.42%)

Zee Entertainment Signs a Merger Deal With Sony Pictures Networks

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Zee Entertainment and Sony Pictures Networks India have signed a merger deal, as per a regulatory filing by the media company to the stock exchanges on 22 September, reported NDTV. The report also states that in a board meeting held on Wednesday, Zee Entertainment's board of directors approved the merger between Sony Pictures Networks India and Zee Entertainment Enterprises Limited (ZEEL).

Punit Goenka will continue to be the managing director and CEO of the entity. The NDTV report adds that Sony Pictures will have the right to appoint the majority of directors.

A statement by Zee Entertainment reads that Zee will hold 47.07 per cent, while Sony Pictures will have a majority stake of 52.93 per cent in the merged company.

"The Board believes that this merger will further benefit ZEEL. The value of the merged entity and the immense synergies drawn between both the conglomerates will not only boost business growth but will also enable shareholders to benefit from its future successes,'' R. Gopalan, Chairman, Zee Entertainment, said in a statement.

Also Read: 'KGF Chapter 2' South Satellite Rights Sold For a Record Price to Zee

. Read more on TV by The Quint.Zee Entertainment Signs a Merger Deal With Sony Pictures Networks'Who Radicalised Them?' Owaisi Asks After Hindu Sena Allegedly Attacks His Home . Read more on TV by The Quint.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting