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Teji Mandi Explains: Sony becomes white knight for Zee Entertainment, signs merger deal

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Teji Mandi Explains: Sony becomes white knight for Zee Entertainment, signs merger deal
Punit Goenka, the current CEO and Managing Director of Zee Entertainment Enterprise, was being pressured by the company's two main investors to step down. Invesco Developing Markets Fund and OFI Global China Fund had earlier called for a special meeting of shareholders to discuss his removal. But it looks like Punit Goenka is not going anywhere anytime soon.

Merger Details

Punit Goenka set in motion a merger with Sony Corporation. In this arrangement, Sony Pictures Networks India (SPN) will hold a majority stake in the merged entity. After SPN infuses growth capital in the merged entity, SPN will hold a 52.93% stake in the merged entity, while Zee will hold the remaining 47.07%. Zee and Sony are among India's largest media and entertainment companies, and after this merger, they will together hold a leadership position in the industry.

Post-Merger…
Teji Mandi
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