The long-awaited merger between Zee Entertainment Enterprises Ltd (ZEEL) and the former Sony Pictures Network (now renamed Culver Max Entertainment) is again suffering major challenges. The latest problem came from The Securities & Exchange Board of India (SEBI) which has ruled that ZEEL’s Subhash Chandra and Punit Goenka cannot have seats on the merged company’s […]
The long-awaited merger between Zee Entertainment Enterprises Ltd (ZEEL) and Sony Pictures Networks India faces another hurdle before the agreement can be wrapped. India’s SEBI (Securities & Exchange Board of India) regulator has asked for more information and has requested the Bombay Stock Exchange and New York exchange as well as the National Company Law […]
The on/off merger talks between Zee Entertainment Enterprises (ZEEL) and Sony Group have resumed. ZEEL is in advanced talks with its creditors in order to settle debts and remove one remaining problem with its sale to Sony Pictures Networks India (SPNI) a wholly-owned subsidiary of Sony Corp. ZEEL owes $18.1 million to ISBI Bank, and […]
The much-delayed merger between India’s Sony and Zee Entertainment (ZEEL) has not – yet – hit the buffers. Zee’s MD Punit Goenk has said that he expects a timely completion of a merger. However, ZEEL told a tribunal on February 24th that its merger with Sony’s India division will “get stuck” due to the initiation […]
India’s Competition Commission (CCI) has finally approved the merger between ZEE Entertainment Enterprises (ZEEL) and Sony Pictures Network India. However, the CCI has required modifications to the original $10 billion merger plan announced in December 2021. Sony’s India trading is now known as Culver Max Entertainment. The deal sees Sony own 50.86 per cent of […]
It’s been nearly eight months since ZEE5 launched in the US, and it has already surged ahead in the market driving strong revenue and engagement growth across the board. As the second-largest market for ZEE5 after India, the US is already the largest contributor to the platform’s international subscription revenue and viewership. The platform has […]
Sony Pictures Networks India Private Limited (SPNI) and Zee Entertainment Enterprises (ZEEL) have signed definitive agreements to merge ZEEL with and into SPNI and combine their linear networks, digital assets, production operations and programme libraries. The agreements follow the conclusion of an exclusive negotiation period during which ZEEL and SPNI conducted mutual due diligence. After […]
Punit Goenka, the eldest son of Zee’s founder Subhash Chandra, was expected to be the new CEO at the merging Zee Entertainment/Sony Pictures entertainment giant. However, an existing major shareholder in Zee, Invesco Fund with an 18 per cent stake, is objecting and has called an Extraordinary General Meeting (EGM) to pursue not only a […]
Subhash Chandra’s Zee Entertainment Enterprises (ZEEL) looks set to commit 7 per cent of its operating profits (EBITDA) into its growing ZEE5 streaming service. Punit Goenka, MD at ZEEL, says that the company is not concerned about closing some specialty channels because audiences are shifting to streaming services. Addressing the changes in strategy, Goenka said: […]