Zee, Sony merger gets nod from stock exchanges
SUBSCRIBE
JOBS
Custom Image
Go Back
2 years ago 06:00:30am Television

Zee, Sony merger gets nod from stock exchanges

New Delhi, 30-July-2022, By IBW Team

Zee, Sony merger gets nod from stock exchanges

The Zee-Sony merger, announced September last, got approval from BSE and National Stock Exchange on Friday, paving the way for the creation of an entertainment behemoth.

“The approval from the stock exchanges marks a firm and positive step in the overall merger approval process. The approvals permit it to proceed with the next steps in the overall merger process. The Composite Scheme of Arrangement remains subject to applicable regulatory and other approvals,” Zee said in a statement later.

Sony Pictures Network India is now called Culver Max Entertainment Pvt. Ltd.

However, the journey till Friday’s stock exchanges approval has been a roller-coaster ride.

Zee and Sony announced their merger on September 22 last year. After a 90-day period to conduct due diligence for the process, which ended on December 21, the Board of Directors of Zee approved the merger with SPNI, moneycontrol.com reported.

The Board had then said that while Sony will hold a 50.86 percent stake in the merged entity, promoters of ZEEL will hold 3.99 percent, and the other ZEEL shareholders will hold a 45.15 percent stake in the combined company.

Media reports have indicated in the past that while Punit Goenka, the present MD & CEO of Zee Entertainment, will continue to be the chief executive of the combined entity, Sony’s present CEO NP Singh will be the chairman of the merged company’s board.


Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

Our Events

  • img
    SatCab Symposium

    SatCab symposium organized by Aavishkar Media Group is an annual event. It's a well-informed event where we have a panel discussion on the current affairs and future forecasting on our industry.

  • img
    BCS
    Ratna Awards

    BCS Ratna Award organized by Aavishkar Media Group is an annual event. In this award function, a community of our industry is honored by receiving the award for the contribution of their work.

  • img
    Chetna Yatra

    Chetna Yatra organized by Aavishkar Media Group is an annual event. Held by Dr. AK Rastogi, Chairman of Aavishkar Media Group. Pilgrimage India in his car for connecting the people of our industry.

  • img
    Imaan India Sammaan

    Imaan India Samman is an event mobilized by Aavishkar Media Group, which was launched in 2012. Giving the award to the NGOs for giving their contribution to society.

Youtube Videos