Mega Merger Of Sony & Zee In India Given Greenlight

According to Reuters, people present at a regulatory hearing said on Thursday a key approval had been given. Zee’s shares were up 10% after the National Company Law Tribunal cleared the deal.

The mega-merger will create an Indian media giant, with the bringing together of the two companies’ linear TV networks, digital assets, production operations and program libraries. Sony will provide a large cash injection and control a majority share stake of close to 51%. The merger has been in the offing for two years but has hit several regulatory roadblocks. It triggered worries after the Securities and Exchange Board of India banned Zee bosses Subhash Chandra and Punit Goenka from the boardrooms of listed companies for a year.it was taking the interim regulatory order very seriously but planned to push on with the merger. These roadblocks appear now to have officially been cleared.

Last year, Zee and Sony offered concessions to help ease regulatory concerns and received antitrust approval for the merged entity, which will compete with Walt Disney India and the Mukesh Ambani-owned Network18.

Österreich Neuesten Nachrichten, Österreich Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Sony-Zee TV Mega Merger in India Is Given Green LightThe proposed merger between Zee Entertainment Enterprises Limited and Sony’s TV operations in India has finally been given a green light – nearly two years after the deal was first anno…
Herkunft: Variety - 🏆 108. / 63 Weiterlesen »

EU antitrust probe joins threat to Adobe’s $20 Billion Figma mergerThe EU's investigation joins similar assessments already underway in the US and UK.
Herkunft: verge - 🏆 94. / 67 Weiterlesen »

Charlie Ergen Plans All-Stock Merger of Dish Network and EchoStarBillionaire satellite TV mogul, Charlie Ergen, is proposing a merger of his businesses, Dish Network and EchoStar, in an all-stock deal. The transaction is expected to generate cost and revenue synergies, enhance free cash flow generation, and create long-term value for shareholders and stakeholders.
Herkunft: THR - 🏆 411. / 53 Weiterlesen »

Campbell Soup CEO discusses merger with Rao's sauce makerCampbell Soup CEO Mark Clouse talks about the company's acquisition of Rao's sauce maker, Sovos Brands, and describes it as a juggernaut in the food business.
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »