Sony Pictures Networks India, Zee to Merge

Sony Pictures Networks India (SPNI) is set to merge with Zee Entertainment Enterprises, combining their linear networks, digital platforms, production capabilities and content libraries.

Sony Pictures Entertainment will hold a majority stake in the combined company. It has committed to investing $1.575 billion at closing, with the funds to be deployed for assisting with the combination of the two companies’ digital assets, investing in lucrative sports rights and pursuing other growth opportunities.

The merged company will be led by Punit Goenka, Zee’s managing director and CEO, and will be publicly listed.