Zee-Sony merger might not happen: In some surprising news, Zee and Sony are thinking about joining forces to become the top media company in India, challenging Reliance Industries’ long-standing dominance in media.
Right now, the media scene in India is pretty competitive. Mukesh Ambani is working hard to bring Disney together with his Viacom 18, while Gautam Adani is looking for chances to invest more in media.
Zee-Sony merger might not happen
The much-anticipated merger of Zee Entertainment and Sony India might not happen, with Sony likely to say no to the deal before January 20. More info about The attempt to go against Ambani didn’t work out, Zee-Sony merger might not happen. Sony could send a notice to cancel the deal by January 20.
Reports from Bloomberg say Sony is thinking of pulling out of the billion merger plan because things aren’t moving forward with the ZEE-SONY partnership. So, the plan to create India’s top media company might not happen.
Bloomberg’s info says Sony is unsure about letting Goenka lead the new company, especially with the ongoing investigation into Zee Entertainment.
Even though all the regulatory authorities approved the 2021 merger between Zee Entertainment and Sony India, there are still many problems, making it unlikely to happen on time. More info about The attempt to go against Ambani didn’t work out, Zee-Sony merger might not happen. Sony could send a notice to cancel the deal by January 20.
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Sony’s parent company, Kluwer Mac Entertainment, asked for more time from Zee Entertainment after the merger’s official deadline on December 21.
Now, both sides are in a bit of a fight, trying to pick someone from their team to lead the ZEE-SONY merger, all because of the ongoing investigation. Sony likes NB Singh, while Zee Entertainment prefers Puneet Konga.
If the ZEE-SONY merger happens, it’ll have 70 TV channels, two streaming platforms – ZEE5 and Sony LIV, and two movie production companies – Zee Studios and Sony Pictures. But right now, the dream of creating India’s top media giant seems a bit shaky.
