Sony unit to buy Zee Entertainment, dominating Indian broadcast market

📆 22/09/2021 19:25:00
📰 Reuters

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Sony's India entertainment unit will buy local rival Zee , merging TV channels, film assets and streaming platforms to become the largest broadcaster in the country and better compete with companies like Netflix and Disney.

, merging TV channels, film assets and streaming platforms to become the largest broadcaster in the country and better compete with companies like Netflix and Disney.

The deal will also ease the pressure that Zee Entertainment Enterprises Ltd was facing from top shareholders who called for a management reshuffle last week - including the removal of CEO Punit Goenka from the board - amid corporate governance concerns. Shares in Zee soared 35% after Wednesday's announcement, taking its market capitalisation to nearly $4.5 billion.

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