Zee Entertainment merges with Sony Pictures India (Likely Cancelled)

The chances of the streaming services merging are less. Though I would love to pay for lesser channels on Tata Sky. But that also probably won't happen. lol
 
I wonder if this move will improve Zee or ruin Sony. Zee CEO heading the new company isn't great news though.
 
economictimes.indiatimes.com

ZEE-Sony merger in final stages of stitching up: Punit Goenka

"ZEE and Sony will form the largest media entertainment player in the country. Our revenues on a standalone basis combined will be close to $2 billion, and the capital that Sony is going to infuse in the merged entity ($1.575 billion) will give us the opportunity to invest in premium content...
economictimes.indiatimes.com economictimes.indiatimes.com
 
www.aljazeera.com

Sony, Zee finalise merger even as courtroom feud continues

The Sony-Zee alliance, with about 75 channels, now stands to overtake Disney’s Star India as India’s biggest player.
www.aljazeera.com www.aljazeera.com

The merger comes amid a complicated boardroom and courtroom feud between Zee’s founders and its largest shareholder, Atlanta-based Invesco Developing Markets Fund, which owns an 18 percent stake.

Invesco, unhappy with the way Zee was run, has been persistently seeking a shareholder meeting to fire Goenka from the board and as CEO.

Invesco sought Goenka’s removal after its attempts to facilitate a buyout of Zee in March by Reliance Industries Ltd – helmed by Asia’s richest man Mukesh Ambani – fell through.

The Bombay High Court is hearing Invesco’s appeal against an October order that barred the US fund from calling a meeting of Zee’s shareholders. An adverse order for Zee could throw a spanner in the works as Invesco didn’t support the deal with Sony as the terms
Click to expand...
 
www.exchange4media.com

NCLT approves Zee-Sony merger - Exchange4media

The court reportedly said the merger should not be held to ransom by the case pending with the Securities and Exchange Board of India
www.exchange4media.com www.exchange4media.com
Sony and Zee decided to merge their television channels, film assets and streaming platforms in late 2021. However, the deal has been delayed due to reasons including a legal battle with lenders over loan defaults by a Zee group entity and reports that stock exchanges were reconsidering approvals for the merger.
Click to expand...
 

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