Dec 22, 2021
Zee announces merger with Sony to create India's second largest entertainment network
Japanese conglomerate Sony's Indian arm has finalised a deal with local rival Zee Entertainment to form the country's second largest entertainment network. Both firms have operated in India for years and own streaming platforms ZEE5 and SonyLIV. They also have a vast TV following with popular channels such as Sony MAX and Zee TV."It's a hugely complementary deal," media and entertainment industry specialist Vanita Kohli Khandekar told the BBC."For example Sony does not have the pan-India, small town and regional reach that Zee has. And Zee does not have a kids or sports business like Sony.". Ms Khandekar said the deal will also propel Zee to an international stage. "The company has now been absorbed by Sony, a $82bn corporation. So, Zee now becomes a foreign company, which gives it a bigger platform." Experts say the merger between Sony and Zee is expected to further ratchet up this competition.
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