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.”

Bu hikaye Business Today dergisinin January 23, 2022 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Business Today dergisinin January 23, 2022 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

BUSINESS TODAY DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
MAKING A BOLD BET
Business Today India

MAKING A BOLD BET

Schauna Chauhan is making a big bet on dairy, a difficult space in India, while also diversifying Parle's portfolio.

time-read
2 dak  |
November 24, 2024
Growing Under Pressure
Business Today India

Growing Under Pressure

Nisaba Godrej has ensured that GCPL's growth stays on track even during tough times

time-read
1 min  |
November 24, 2024
WINDS OF CHANGE
Business Today India

WINDS OF CHANGE

IT'S STILL NOT EASY TO BE A WORKING WOMAN IN THE COUNTRY AND MAKE IT TO THE TOP. BUT COMPANIES ARE WORKING TO INCENTIVISE AND RETAIN WOMEN EMPLOYEES IN THE WORKFORCE BY OFFERING A RANGE OF BENEFITS.

time-read
6 dak  |
November 24, 2024
QUEENS OF THE MARKET
Business Today India

QUEENS OF THE MARKET

THE NUMBER OF WOMEN FUND MANAGERS HAS MORE THAN DOUBLED FROM 18 IN 2017 TO 42 IN 2023. HOWEVER, WOMEN FUND MANAGERS STILL MAKE UP ONLY 8.88% OF THE TOTAL FUND MANAGERS PRESENT IN INDIA.

time-read
10 dak  |
November 24, 2024
"India presents tremendous growth opportunities for IHH"
Business Today India

"India presents tremendous growth opportunities for IHH"

Singapore-based IHH Healthcare, which reported revenues of $4.55 billion in 2023, owns hospital chains Fortis Healthcare and Gleneagles in India.

time-read
6 dak  |
November 24, 2024
APERFECT SCRIPT?
Business Today India

APERFECT SCRIPT?

Adar Poonawalla’s decision to invest `1,000 crore in Karan Johar’s Dharma Productions is certainly intriguing.

time-read
2 dak  |
November 24, 2024
"Viksit Bharat in reach if female workers increase"
Business Today India

"Viksit Bharat in reach if female workers increase"

Franziska Ohnsorge, the World Bank's Chief Economist for South Asia, on trends in female labour force participation rate, policy measures, and more

time-read
3 dak  |
November 24, 2024
Ambuja Checks into Orient
Business Today India

Ambuja Checks into Orient

The Adani Group-owned company has made five buyouts in less than two years and is hungry for more

time-read
2 dak  |
November 24, 2024
The EV Craze
Business Today India

The EV Craze

The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly

time-read
5 dak  |
November 10, 2024
The Storage Boom
Business Today India

The Storage Boom

Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?

time-read
8 dak  |
November 10, 2024