Zee Entertainment Enterprises is now officially merged with Sony Pictures Networks India. There were rumours about their merger for a long time but it has been confirmed very recently.
After a meeting with the board of directors, Zee Entertainment Enterprises approved the proposed merger between the two.
Other than those two giants, Bangla Entertainment Private Limited is also a part of this merger.
Interestingly, they have now become the second-largest streaming platform in India. First of course is none other than Disney+Hotstar.
The reason Disney+Hotstar remains unbeatable in India is simple. It provides us with a great number of direct to OTT releases and most importantly the IPL streaming. Even after that, it is quite affordable, unlike Netflix that is still struggling to establish itself firmly in India.
Punit Goenka, who is the CEO of Zee Entertainment Enterprises will continue to remain in his position even after this merger.
But the majority stake of this merger will be held by Sony. It will hold a 50.86% stake in the merged entity. Zee entertainment will hold only 3.99% while public shareholders will have 45.15% of the merger.
But this merger will prove to be beneficial only if they continue making great content.
Sony has produced some exceptionally brilliant series like Tabbar and Scam 1992 and with this merger, the expectations are set on an even higher level.
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