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.

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