Zee-Sony Mega Merger Receives NCLT Approval; Stock Prices Soar

New Delhi: The National Company Law Tribunal (NCLT) has approved the merger of Zee Entertainment Enterprises Limited (ZEEL) and Sony Pictures Networks India (SPNI). The deal, which was announced in September 2021, is expected to close in the first half of 2024.

The merger will create the largest entertainment company in India, with a combined standalone revenue of around USD 2 billion. ZEEL and SPNI will consolidate their TV businesses, digital assets, production operations, and program libraries.

The merger is expected to benefit both companies. ZEEL will gain access to Sony’s global content library and production expertise, while SPNI will expand its reach in India. The combined company will be well-positioned to compete with the likes of Disney+ Hotstar and Amazon Prime Video.

The merger has been welcomed by investors. ZEEL’s stock price surged by 15% on the BSE after the NCLT approval. The deal is also seen as a positive development for the Indian entertainment industry, which is growing rapidly.