Zee Entertainment board clears media firm’s mega merger with Sony

The board of Zee Entertainment Enterprises (ZEEL) on Tuesday cleared one of India’s largest media deals. Early on Wednesday morning, Zee announced that it had signed a definitive agreement to merge with Sony Pictures Networks India (SPNI). The combined entity, with a revenue of roughly Rs 14,000 crore, is India’s second-largest media firm. SPNI is an indirect subsidiary of Sony Pictures…

As per the statement, Punit Goenka, MD and CEO, ZEEL, was approached with another deal by Invesco Amid the ongoing tussle between Zee Entertainment Enterprises Limited (ZEEL) and its largest single shareholder Invesco, the broadcaster has released a response to the latter’s claims. While Invesco has raised two specific concerns about the proposed deal with Sony, ZEEL has responded to both the…