ZEEL-Sony MEGA Merger Deal - Top points everyone needs to know - Check details here
The Board of Directors of ZEE Entertainment Enterprises (ZEEL) unanimously provided an in-principal approval for the merger between ZEEL and Sony Pictures Network India (SPNI).
ZEEL-Sony Merger: The Board of Directors of ZEE Entertainment Enterprises (ZEEL) unanimously provided an in-principal approval for the merger between ZEEL and Sony Pictures Network India (SPNI). There are certain pointers that people need to know about the Zee-Sony merger.
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Who will be the MD and CEO?
Punit Goenka will continue as the Managing Director (MD) and Chief Executive Officer (CEO) even after merger of in-principal approval for merger with Zee Entertainment and Sony Pictures India.
Punit Goenka to invest $157.5 Cr after merger.
After the merger, Sony Entertainment will have a majority shareholding in the merged entity. Both parties have signed a non-binding termsheet. Both parties will be completing the due-diligence on the deal with the 90-day period. After the merger, the merged entity will be listed on the Indian stock exchanges.
Both parties will also be signing a non-compete agreement. The investors of ZEEL will likley have a 47.07 per cent share in the company.
Zeel - Sony Merger: विलय और नए निवेश के बाद कैसे बदलेगी हिस्सेदारी? | Br... https://t.co/8up1o4H4n3
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How big is the ZEEL-Sony deal?
With this merger, ZEEL to get growth capital access to each other's content and digital platforms. On the other hand, Sony will get a chance to increase its presence in India.
ZEEL has its reach in 190 countries in 10 languages and with more than 100 channels. There has been a market share of 19 per cent in audience. The TV content is more than 2.6 lakh hours. There is also a big hold through Zee5 in digital space. Furthermore, 25 per cent of the films in the country are seen on Zee Network.
There are 31 channels in India with a reach in 167 countries. Sony has 700 million viewers in the country with 9 per cent market share in audience.
(Disclaimer: Zee Entertainment is not our sister concern/group company. Though our names sound similar but our company is owned by Zee Media Corporation, which is a different group.)
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