Zee Entertainment Enterprises and Sony Pictures Networks India are close to signing definitive agreements to merge the two companies. Final negotiations had been completed and the deal could be signed in the early hours of Wednesday. As part of the proposed merger, the two companies had announced an investment of $1.575 billion by Sony Pictures’ promoters in the merged company for the majority stake
Why it’s important:
The merger will create India’s second-largest entertainment network by revenue and spawn an entity with 75 TV channels, two video streaming services (ZEE5 and Sony LIV), two film studios (Zee Studios and Sony Pictures Films India) and a digital content studio (Studio NXT).
