India merger of Sony, Zee to create TV powerhouse challenging Disney

MUMBAI : A merger of India's Zee and a domestic unit of Japan's Sony Group Corp will create a television powerhouse to grab more advertising revenue, challenging top rival Walt Disney Co in a key growth market, industry officials said.

Wednesday's plan, to be finalised over 90 days of exclusive talks, will see Sony pump growth capital to the tune of US$1.6 billion into its domestic unit to boost the prospects of the combined firm, while taking a majority stake in Zee. Disney, whose Star India network has dozens of popular entertainment and sports channels, did not respond to a request for comment from Reuters.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Australian buy-now-pay-later Zip enters India with US$ 50 million investmentAustralian buy-now-pay-later firm Zip Co Ltd said on Wednesday it had agreed to invest US$50 million to acquire a minority interest in Indian peer, ZestMoney, as part of its global expansion plans. (Reporting by Sameer Manekar in Bengaluru, Editing by Sherry Jacob-Phillips)
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Exclusive: India likely to block Chinese investment in insurance giant LIC's IPO -sourcesNEW DELHI : New Delhi wants to block Chinese investors from buying shares in Indian insurance giant Life Insurance Corp (LIC) which is due to go public, four senior government officials and a banker told Reuters, underscoring tensions between the two nations.State-owned LIC is considered a strategic asset
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »