How The Arranged Marriage Between Zee And Sony Could Pan Out?
Business Today|January 23, 2022
Circumstances broker a coupling of Zee and Sony, two companies with distinctly different cultures and strengths. As they unite for a new future, they still face several hurdles, including an upset Invesco, Zee’s largest investor, and their own contradictions. The real challenge for the new mates has only just begun
Krishna Gopalan
How The Arranged Marriage Between Zee And Sony Could Pan Out?

IT HAS BEEN a busy 12 months for Punit Goenka. Sitting in his spacious room in Zee Entertainment Enterprises’ central Mumbai office, the relief on his face is palpable. He has just signed a deal to merge Zee, where Goenka is the MD & CEO, with Sony Pictures Networks India. Though the deal was in the making for over a year—as is normal in M&As—valuation was a contentious issue. With a combined revenue of $1.79 billion, this would be the second largest entertainment network after Star & Disney India, which has revenues of $1.8 billion, a shade more than the new entity. Importantly, the Zee-Sony entity will have 75 channels and a strong presence in entertainment, sports and regional markets, making it a serious player.

The sequence of events that led to the deal is quite apt for two companies that create content from such storylines for a living. The first move was made by Sony in November 2020, but that offer was not acceptable to Goenka. Things started moving about three months later when KPMG reached out to him on behalf of Sony with a better valuation. By August 2021, he was in the thick of it. “I was in London on holiday, but constantly on the phone with my team back here to thrash out the deal,” reveals Goenka. Why was Sony interested? N.P. Singh, MD & CEO of Sony Pictures Networks India, says his company wanted to expand its footprint. “For a while, we had discussed the possibility of doing something with Zee. Once we were clear, I took it to my bosses.”

Esta historia es de la edición January 23, 2022 de Business Today.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición January 23, 2022 de Business Today.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE BUSINESS TODAYVer todo
Pension Scheme - Safety Net
Business Today India

Pension Scheme - Safety Net

The move to introduce the UPS has evoked mixed reactions. Analysts believe its funding will have limited impact on the fiscal math

time-read
4 minutos  |
September 29, 2024
The Reit Choice?
Business Today India

The Reit Choice?

Real Estate Investment Trusts (Reits) Are Gaining Traction As Interest Rates Stabilise. But Returns Could Be Affected By Adverse Economic Conditions And Market Volatility

time-read
7 minutos  |
September 29, 2024
CORPORATE - Calling to Account
Business Today India

CORPORATE - Calling to Account

The sudden exit of Byju's auditor BDO marks the latest in a long series of setbacks for the edtech firm

time-read
1 min  |
September 29, 2024
EMPLOYMENT: Skills Push
Business Today India

EMPLOYMENT: Skills Push

The skill development ministry plans to partner with the UGC to improve the employability of undergraduates

time-read
1 min  |
September 29, 2024
Building on a Vision
Business Today India

Building on a Vision

L&T'S CHAIRMAN EMERITUS A. M. NAIK HAS BUILT A MAMMOTH ENTERPRISE THAT IS BUILDING A NEW INDIA, FROM ITS METRO RAIL SYSTEMS TO THE RAM TEMPLE

time-read
2 minutos  |
September 29, 2024
"KYS more important than KYC"
Business Today India

"KYS more important than KYC"

Vijay Kedia is a renowned equity investor; the value of his listed portfolio stands at around ₹1,750 crore

time-read
1 min  |
September 29, 2024
ROXX STAR
Business Today India

ROXX STAR

THE THAR ROXX COMBINES LUXURY WITH PERFORMANCE TO MAKE A STRONG STATEMENT IN THE MID-SIZE SUV SEGMENT

time-read
2 minutos  |
September 29, 2024
HIT THE GROUND RUNNING
Business Today India

HIT THE GROUND RUNNING

Smartwatches have become indispensable tools for runners, offering real-time insights into pace, distance, heart rate, and more. Here are a few you can consider

time-read
2 minutos  |
September 29, 2024
TURNING THE TABLES
Business Today India

TURNING THE TABLES

INDIA'S FURNITURE MARKET IS POISED FOR A GLOBAL TAKE-OFF. ALREADY, A HOST OF GLOBAL BRANDS HAVE MADE THE COUNTRY THEIR HOME, BUT INDIAN COMPANIES ARE NOT TOO FAR BEHIND

time-read
7 minutos  |
September 29, 2024
THE EVOLUTION OF ATHERA
Business Today India

THE EVOLUTION OF ATHERA

IDENTIFYING OPPORTUNITIES IN ADVANCE HAS STOOD THIS BENGALURU-BASED VC FUND IN GOOD STEAD. NOW, WITH A HEIGHTENED FOCUS ON TECHNOLOGY, IT WANTS TO SUSTAIN THE SUCCESS

time-read
7 minutos  |
September 29, 2024