News Formal

Sony unit to buy Zee Entertainment, dominating Indian broadcast market

  • 📰 Reuters
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US

United States United States Latest News, United States United States Headlines

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

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…
Source: DEADLINE - 🏆 109. / 63 Read more »