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Zee, Sony unit merger gets approval from India competition regulator

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India's competition regulator on Tuesday approved a merger between the Indian unit of Japan's Sony and Zee Entertainment Enterprises that will create a $10-billion TV behemoth, but with certain conditions.

Competition Commission of India

did not elaborate on the conditions. Sony said it would wait for remaining regulatory approvals to launch the merged company, while Zee did not respond to a request for comment. Zee and Sony had offered concessions such as pricing discounts to help ease concerns of the regulator over their merger, sources told Reuters last month.

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