The shareholders of Sony Pictures Networks India will infuse growth capital into that company as part of the merger, ZEE Entertainment Enterprises Ltd. says in a statement to Indian stock exchanges.
Sony capital infusion will be such that it has about $1.575 billion cash balance at closing.
Shareholders of Sony Pictures Networks India will hold a majority 52.93% stake in the merged entity and Zee shareholders will hold 47.07%.
It would be interesting to see what happens to Zee5 and Sony Liv. Will they close either of the app?
Few years back Zee sold its Sports channels Ten Sports Network to Sony.
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