Highlights

Closing of the transaction is subject to shareholder approval
SPE will indirectly hold a majority of 50.86%
Puneet Goenka to continue as CEO & MD of the merged entity

Latest news

Sennheiser’s New Momentum Headphones And Earbuds Put Battery Replacement In Your Hands

'Indian Elections, Lok Sabha and Vidhan Sabha Polls Are Being Rigged': RaGa Targets ECI Amid SIR Row

Sensex Crashes 1,248 Points, Nifty Falls 1.64% Amid Global Cues

Ranbir Kapoor's first look from 'Love and War' unveiled; film to release in 2027

India thrash South Korea 8-2, Dilpreet Singh scores hat-trick at Asian Games

Gambhir reflects on two-year tenure, shares experience working with four India captains

US judge blocks White House ban on CNN, MS NOW, Politico

'Goa CEO Wrote to ECI 8 Times in 7 Days': Jairam Ramesh Slams EC Over Voter Deletion Claims

Zee Sony sign on dotted line for merger, will be a listed company in India

Name: Zee Sony sign on dotted line for merger, will be a listed company in India
Uploaded: 2021-12-22T09:47:29.000+05:30
Duration: T00M50S
Channel: EJ Biz Desk
Description: Zee and Sony are finally merging and creating an entertainment giant in India amidst a bitter shareholder battle between Zee and shareholder Invesco.

Zee’s founding family had been embroiled in a bitter battle with Invesco, its largest shareholder.

Updated: Sep 02, 2022 10:53

EJ Biz Desk

Join our WhatsApp Channel

Zee Sony sign on dotted line for merger, will be a listed company in India

Zee Entertainment and Sony Pictures are finally merging and creating an entertainment giant in India amidst a bitter shareholder battle between Zee and shareholder Invesco.

Here are the details of the Zee Entertainment and Sony Pictures merger- :

• ZEE will merge into Sony Pictures

• Closing of the transaction is subject to shareholder approval

• Founders of Zee just have 4% stake, while disgruntled shareholder Invesco holds 18%

• Zee’s founding family had been embroiled in a bitter battle with Invesco, its largest shareholder for the past three months

• SPE will indirectly hold a majority of 50.86% of the merged company, while ZEE promoters will hold 3.99%. Existing shareholders will hold a 45.15% equity stake in the merged company.

• Puneet Goenka to continue as CEO & MD of the merged entity

• Will create India’s second-largest entertainment network by revenue

Also Watch: Urban Company: Women workers protest against new work systems; get penalised with lawsuits