Zee-Soni Merger: Zee and Sony merger got approval from stock exchanges, agreement was reached in December.

The merger of Zee Entertainment Enterprises Limited and Culver Max Entertainment Private Limited formerly known as Sony Pictures Networks has received the approval of the Stock Exchange. Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) have approved this proposed merger.

On behalf of Zee Group, it has been said that this approval from the stock exchanges is a strong and positive step in the process of merger of the two companies. After this approval, now both the companies can proceed with their merger process.

Let us tell you that the two companies had signed a merger agreement in December last year under which both the companies had agreed to merge their network as well as their digital assets, production operations and program library. Let us tell you that after getting approval from the stock market on this merger deal, now approval from Competition Commission of India is awaited. An application in this regard was made on 29 April 2022 before the Competition Commission of India for approval.