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Merger between ZEE Entertainment and Sony Pictures Network

News Desk | The merger has taken place between ZEE Leisure and Sony Footage Community, and as a part of the deal, Sony Community will make investments $1.75 billion with a most stake within the merged entity.

Zee Leisure Enterprises Restricted (ZEEL) on Wednesday introduced that its board has given in-principle approval for the merger between Sony Footage Networks India (SPNI) and ZEEL. Zee Leisure mentioned, “SPNI shareholders will maintain the utmost stake within the merged entity. The shareholders of SPNI will make a capital contribution as a part of the merger, which shall be roughly $1.75 billion.

Below the deal, Sony Footage Networks will maintain 52.93 per cent stake within the merged entity, whereas Zee Leisure shareholders will maintain 47.07 per cent fairness. In response to Zee Leisure, Punit Goenka will proceed to be the Managing Director and CEO of the merged entity.

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