Recently, the Zee-Sony merger took place, which included key details like ownership structure, leadership, controversies, and the impact on India's entertainment landscape.
Zee Entertainment and Sony Pictures Networks India (SPNI) announced a merger on September 22, 2023.
CEO of Zee Entertainment, Punit Goenka, stated in November'23 that the proposed merger is in its final stages.
The merger's due diligence period was 90 days, which ended on December 21st, 2023.
After the merger, SPNI shareholders will have 52.93%, and Zee shareholders will own 47.07% of the new entity.
The combined board of nine members will feature five Sony executives, emphasizing important appointments.
Punit Goenka is set to be the Managing Director & CEO of the merged firm, as agreed upon in the deal.
The term sheet allows Zee's promoter family to increase its shareholding from 4% to up to 20%, raising concerns among shareholders.
Zee's largest shareholder, Invesco, raised concerns about the promoter family's increase in stake, resulting in disputes and legal action.
According to market experts, Zee & Sony merger will make both companies grow a lot in their business and the industry.
This merger is anticipated to potentially replace Star and Disney as top players in the future, gaining substantial viewership shares.