Two biggies of the Entertainment industry have confirmed the news about their tie-up after getting green signals from the boards. Zee and Sony merger will form the biggest network across the country with a viewership share of 26 percent. The decision was taken after Chief Executive of Zee Enterprises Punit Goenka had announced his exit.
The decision was dropped following the board meeting on 21st September. Now, he will be the Managing Director and CEO of the newly formed entity.
ZEE and SONY To Have Largest Viewership Share After Merger
via:prabhatkhabar
Disney India and Star have around 18-20% of viewership share in India. After the merger, Sony Pictures Networks India and Zee Entertainment Enterprises Ltd will have a larger percentage of shares. Sony will have only an 8% share and the remaining 18 percent will go to ZEE.
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Together they will operate around 75 channels where 49 channels will be operated under ZEE alone. The two have a strong presence not only across India but also around the world. On one hand, where regional channels of Zee like ZeeTamil, Kannada, Bangla, and many more are doing well in the market, Sony is leading in the sports genre.
After the merger, Sony will get an advantage from the popularity of ZEE thus gaining access to more than 1.3 billion audiences. Moreover, the deal will allow Sony to access Hindi film and TV content offered by Zee.
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The two will also have a shared percentage in stakes where ZEE takes 47.07% of shares. It will benefit both in long run and also open up new opportunities to the shareholders.