In a high-octane drama from the Indian media landscape, Sony’s India division and Zee Entertainment Enterprises Limited (ZEEL) are racing against time to seal their much-anticipated merger deal. Insiders told the Economic Times that this merger, touted as one of the media industry’s most significant, could see the light of day as early as next month.
But here’s the twist: According to the business daily, financial bigwigs like Axis Finance and IDBI have challenged the merger’s green signal from the National Company Law Tribunal. Yet, the buzz is that the merger might still roll out in the first half of November.
The Boston Consulting Group, the brains behind orchestrating this merger, is reportedly burning the midnight oil to ensure a smooth transition. An anonymous top-tier official told ET: “Both teams are giving it their all to wrap up the merger by early November.”
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However, the merger’s road isn’t devoid of bumps. While the merger’s finish line is in sight, Sony’s exploratory chats with Walt Disney to snap up its Indian assets have raised eyebrows, hinting at potential delays with ZEEL.
Meanwhile, Zee’s stock is enjoying a sunny spell, surging over 40% since June, with market whispers fuelling its ₹24,550 crore market cap.
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Sony, in a recent statement, remained tight-lipped about a specific deadline but assured that the Sony-Zee union is on track.
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