Zee Entertainment-Sony Pictures Networks India merger announced

Zeel-Sony Merger: The merger between Zee Entertainment-Sony Pictures Networks India has been announced. The board of ZEEL has given in-principle approval to the merger. Sony will invest Rs 11,605.94 crore in the company formed after the merger. Puneet Goenka will continue to be the Managing Director (MD) and CEO of the merged company. After the merger, Zee Entertainment will hold 47.07 per cent stake. Sony Pictures will hold 52.93 per cent. The merger company will also be listed in the stock market.