Board of Directors of ZEE Entertainment Enterprises Limited (ZEEL) on Tuesday (September 21) unanimously gave in-principle approval for merger of ZEEL and Sony Pictures Networks India (SPNI).
Zee Entertainment and Sony Pictures on Wednesday said they have received in-principle approval for a merger that will combine both companies’ linear networks, digital assets, production operations and program libraries.
ZEEL-Sony Pictures Merger: Why deal is extremely profitable for shareholders, stakeholders - Not only on financial parameters, but the deal ranks very high also on the strategic value which the partner brings to the table.
The ZEEL Board concluded that the "merger will be in the best interest of all the shareholders and stakeholders and it is in line with ZEEL’s strategy of achieving higher growth and profitability as a leading Media & Entertainment Company across South Asia.''
Financially troubled Zee Entertainment Enterprises will merge with Sony Pictures Networks India (SPNI).Accordingly, the board of ZEEL has provided an in-principle approval for the merger."The Board has evaluated not only on financial .