Entertainment
Sony Group unit seeks to acquire India’s Zee Entertainment and invest an additional $ 1.57 billion – TechCrunch
Sony Pictures Networks India announced on Wednesday that it has agreed to acquire Zee Entertainment, which, if the deal goes through, will bring together two of India’s biggest broadcasting giants that operate major cable TV networks, streaming services, music labels and own dozens of other digital assets.
The subsidiary of the Japanese conglomerate group has announced that it will invest $ 1.575 billion in Zee Entertainment, a 30-year-old company struggling with internal governance issues.
Sony has said it wants to acquire a 53% controlling stake in publicly traded company Zee Entertainment, but did not disclose how much it plans to spend on the purchase of Zee, which operates more than five dozen English-language TV channels. , in Hindi and many regional languages and has links with several global studios for broadcasting and streaming of their library in India. Likewise, Sony Pictures Networks India operates more than two dozen TV channels in the South Asian market.
A merger would help the two companies regain market share in the country, where the television landscape has changed dramatically over the past two decades – thanks to the arrival of new players and the extremely rapid adoption of the Internet.
Zee and Sony have both been major players in the Indian television industry for the past 25 years. Sony launched Sony Entertainment Television in India in 1995 and aired some of the most memorable shows including “Indian Idol” and “Kaun Banega Crorepati,” an official Hindi adaptation of “Who Wants To Be A Millionaire? “
The companies also operate on-demand streaming services like Zee5 and SonyLiv which compete with dozens of other players including Netflix, Amazon Prime Video, and Disney’s Hotstar. Zee5 and SonyLiv both have over 150 million monthly active users, although there is likely considerable overlap between their user bases.
The two companies said that over the next 90 days they will do a due diligence and finalize a definitive deal. Analysts say Zee will need majority approval from its shareholders for the deal to go through.
In a filing with ESB, publicly traded company Zee Entertainment said the proposed merged entity would be headed by current Zee chief executive Punit Goenka (pictured above). Several Zee shareholders have called for the sacking of Goenka and other senior officials in recent days.
Zees shares jumped 35% on the news Wednesday, giving it a market value of $ 4.5 billion.
The combined company would be a listed company in India and would be in a better position to lead consumers’ transition from traditional pay-TV to the digital future, Sony Pictures Networks India said in a statement. The merger of ZEEL and SPNI would bring together two leading Indian media network companies, benefiting consumers across India in all genres of content, from film to sports.
|
Sources 2/ https://techcrunch.com/2021/09/22/sony-zee-india-acquisition/ The mention sources can contact us to remove/changing this article |
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]
 |
 |
 |
