The companies announced on Wednesday that they have entered exclusive merger talks that will combine both their linear networks, digital assets, production operations and program libraries.
The deal brings together Zee’s strength in linear television, as well as its interests in print, internet, film production and mobile content with SPNI’s film and television production and broadcast sports assets. The new merged entity will be lead by current Zee CEO Punit Goenka. Sony Pictures Entertainment, the parent company of SPNI, would hold a majority stake in the combined company.
Sony Pictures Entertainment will inject capital into SPNI as part of the merger, approximately $1.575 billion, as part of the growth plan for the new entity.
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