ZEE-Sony merger expected to be completed by March 2024
The much delayed ZEE-Sony merger will reportedly be complete by March 2024, according to analysts.
The proposed merger between Sony Pictures Networks India and ZEE Entertainment Enterprises Limited has been on the cards for nearly two years. However, it has faced challenges due to allegations of financial impropriety.
“Sony Pictures Network India (SPNI/Sony) and Zee Entertainment Enterprises Limited (ZEEL/Zee) merger continues to create a lot of buzz in the current global media and entertainment sector, and this anticipated merger is likely to be completed by the end of March 2024,” said Shivani Bhushan, senior associate at boutique law firm TAS Law.
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“Both ZEEL and SPNI have exchanged the non-binding term sheets, as per which both the entertainment network giants will combine their linear networks, digital assets and production operations to create a common pool for the new merged entity. Both ZEEL and SPNI will have a 90-day time limit to conduct due diligence of each other through data rooms,” Bhushan added.
The organisation and the running of the new merged company has not yet been revealed.
