Sony unit to buy Zee Entertainment, dominating Indian broadcast market

, 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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Sony Pictures Networks India & Zee Entertainment Set For MergerSony Pictures Networks India (SPNI) and Zee Entertainment Enterprises are finalizing a merger that would create a giant combined entity in the Indian broadcasting scene. The two parties have entere…
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