Zee Entertainment sign merger deal with Sony Pictures Networks India Private Limited

Zee Entertainment sign merger deal with Sony Pictures Networks India Private Limited

• The Board of Directors of ZEE Entertainment Enterprises Limited (ZEEL) has unanimously approved the merger of the company with Sony Pictures Networks India (SPNI).
• As a part of the merger, shareholders of SPNI will also infuse growth capital into SPNI, which will make them the majority stakeholder in the merged entity.
• Zee Entertainment will hold 47.07 percent stake, while Sony India will hold a 52.93 percent stake in the combined company.
• Following the merger, Sony India will have the right to appoint the majority of directors to the merged company.
• Puneet Goenka, the CEO of Zee Entertainment, will be the MD and CEO of the merged entity for a period of 5 years.
• The merged entity will be listed on the Indian stock exchanges. 

Points to Remember:

1. Zee Entertainment has approved the merger of the company with which media company?
2. Shareholding of Zee Entertainment and Sony in the merged entity?
3. MD & CEO of the new entity?
4. Which Indian media company has approved its merger with Sony Pictures Networks India ?