The CCI had initially concluded that the deal could have a negative impact. After that notice was issued to both the parties. After that both the sides made some proposals of their own free will, which the CCI accepted.
Sony Zee Merger approved by CCI
The Competition Commission of India (CCI) on Tuesday Sony And the merger of G was approved with certain conditions. The CCI has written on Twitter that it has approved the deal with some modifications. The proposed merger was announced in September last year. The commission said that Zee Entertainment Enterprises Ltd. (g) and Bangla Entertainment Pvt. Ltd. (BEPL) K Culver Max Entertainment Pvt. Ltd. (CME) has been approved with some improvements. At present, the full details of the approval have not been received.
Sources said that the CCI had initially come to the conclusion that the deal could have a negative impact. After that notice was issued to both the parties. After that both the sides made some proposals of their own free will, which the CCI accepted. For mergers beyond a certain limit, approval from the CCI is required. However, there was a slight delay in this approval as the CCI scrutinized the proposal at its level. CCI had to do a thorough investigation regarding advertising and channel pricing, what would be its impact after the merger.
Combination C-2022/04/923Commission approves amalgamation of Zee Entertainment Enterprises Limited (ZEE) and Bangla Entertainment Private Limited (BEPL) with Culver Max Entertainment Private Limited (CME), with certain modifications.#CCIMergerControl #mergers #mergerupdate pic.twitter.com/5JFG6RgiHl
— CCI (@CCI_India) October 4, 2022
what will happen after the merger
Now after getting the approval from CCI, the way has been cleared for the merger of both the companies. According to experts, after the merger of the two companies, it will be the largest network in the entertainment sector. According to the data, this group will have 26 percent share of the audience. In the Hindi belt regions, this network will have more than half the audience share. Not only this, this new company will also have 63 percent stake in Hindi cinema. This is the reason why the eyes of the country and the world are on this merger.
Recently there was news that after the merger, the new company will be run by a board in which Sony Pictures will play the most important role. It was also said in the news that Zee Network CEO Puneet Goenka will continue to be the CEO of the new company. It was also decided that Puneet Goenka would be the only member on the board on behalf of ji. Apart from this, 5 members will be from Sony Pictures and 3 will be independent directors in the board of 9 members.
home to home network
In India, the name of Ji can be heard in every household. This company was established in 1992 which was started by Subhash Chandra. This is the reason why Chandra is also called ‘Father of Indian Television’. Zee’s merger effort with Sony Pictures has been going on for a long time but due to controversies in the boardroom, it was put on a break in 2021. The advantage of the merger of Sony Pictures with Zee will be that it will get a large audience across digital, TV and regional languages. There is a huge demand for TV, digital and local language channels in the Indian market which Zee has cashed in over the years.