Categories: Agreements

Zee Entertainment & Sony Pictures signs merger deal

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. The merged entity will be listed on the Indian stock exchanges.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

About the deal:

  • Zee Entertainment will hold 47.07 per cent stake, while Sony India will hold a 52.93 per cent 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.

Important takeaways for all competitive exams:

  • Sony Pictures Networks India Headquarters: Mumbai;
  • Sony Pictures Networks India Founded: 30 September 1995.

Find More News Related to Agreements

HDFC Bank ties up with Paytm to launch co-branded credit cards_90.1HDFC Bank ties up with Paytm to launch co-branded credit cards_90.1

Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

Recent Posts

PM Surya Ghar Scheme Hits 10 Lakh Installations

In a remarkable stride toward achieving energy self-reliance and environmental sustainability, PM Surya Ghar: Muft…

9 hours ago

Keel Laying of Second Fleet Support Ship (FSS) for Indian Navy

In a significant step towards strengthening India's maritime capabilities, the keel-laying ceremony for the second…

10 hours ago

Starlink Internet Explained: How It Will Transform India’s Internet Landscape

In a major move to bridge the digital divide in India, Bharti Airtel and Reliance…

10 hours ago

Mycelium Bricks: A Sustainable Alternative to Traditional Clay Bricks

In the wake of climate change and the growing need for sustainable solutions, the construction…

11 hours ago

Indian Railways Joins Mission Amrit Sarovar to Tackle Water Scarcity

The Indian Railways has been integrated into the Union Government's Mission Amrit Sarovar, launched in…

11 hours ago

Lok Sabha Passes Oilfield (Regulatory and Development) Amendment Bill, 2024

The Lok Sabha passed the Oilfield (Regulatory and Development) Amendment Bill, 2024, on 12th March…

12 hours ago