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From giving India its first private satellite TV channel in 1992, to reaching 1.3 billion viewers around the world through linear and digital platforms. ZEE, today, is the global entertainment go-to, with an integrated team creating and serving extraordinary content.
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News
By Balakumar K
published 22 September 2021
Interesting phase ahead
(Image credit: BiznextIndia)
Two of the biggest names in Indian media and entertainment space are joining hands. In a mega marriage, Zee Entertainment Enterprises Limited (ZEEL) today announced its merger with Sony Pictures Networks India (SPNI). As per the announcement, Sony will invest $1.57 billion and will be the majority shareholder with 52.93% controlling stake, while ZEEL shareholders will hold 47.07% stake.
The two companies have basically have entered into a non-binding agreement and have decided to combine their linear networks, digital assets, production operations and programme libraries.
As per the approved timeline of the merger, the two companies will have 90 days to conduct mutual diligence and finalize definitive agreements.
ZEEL board has given its approval to the deal, and ZEEL's Puneet Goenka will remain the Managing Director and CEO of the merged entity.
The ZEEL board said that "it not only evaluated financial parametres, but also the strategic value which the partner brings to the table".
Zee was facing flak from its investors who last week had sought removal of its three directors.
In the event, this merger will be a face-saver for Zee.
Both Zee and Sony are top names in the Indian television and digital space. Zee is available in 173 countries and reaches over 600 million individuals in India every week. Sony, for its part, goes to over 700 million viewers in India per week and has presence in 167 countries. In all, Sony has 26 channels and Zee 49 channels.
Sony's content slate is across genres, but its strength is in sports. Its sports telecast/streaming of international cricket from Australia and England, and the Olympics in recent times have been big hits. Zee's forte is in filmi entertainment, and in the television network stakes it has grown stronger in the South Indian market.
Thanks to the merger Sony network in India will now have access to Zee's over 260,000 hours of television content and also its film library with rights to more than 4,800 movie titles across various languages.
"The merged entity will be the number one player in the entertainment space with more than 35% to 40% market share. Of this, Zee has about 18-19% share," a market analyst was quoted as saying the Economic Times.
India has four major broadcasting channels or players -- Star, Colours, Zee and Sony. Out of these four, two are getting merged. So the new entity is definitely going to be a big player on the global platform as well as in India, he added.
But what will happen to the respective OTT platforms of the two companies - Zee5 and SonyLIV.
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noun [ C ] US uk / ziː / us / ziː / Add to word list. the last letter of the English alphabet; Z: As far as "zee vs. zed" goes, we Canadians still say "zed." Compare. zed. Fewer examples. Tianna defiantly pronounces the last letter of the alphabet in the American fashion, "zee."
What does ZEE abbreviation stand for? Explore the list of 36 best ZEE meaning forms based on popularity. Most common ZEE abbreviation full forms updated in May 2020.
What does ZEE mean? Zee Entertainment Enterprises (ZEE) is an Indian media and entertainment company based in Mumbai, Maharashtra, India.
noun [ C ] US us / ziː / uk / ziː / Add to word list. the last letter of the English alphabet; Z: As far as "zee vs. zed" goes, we Canadians still say "zed." Compare. zed. Fewer examples. Tianna defiantly pronounces the last letter of the alphabet in the American fashion, "zee."
