Sony subsidiary in merger talks with Indian entertainment giant ZEEL

Economy Society

Sony Pictures Networks India Pvt. Ltd., Sony Group Corp.'s Indian operator of multiple TV channels, has entered into talks toward a possible merger with local media conglomerate Zee Entertainment Enterprises Ltd. Sony Group said SPNI and ZEEL have agreed on a nonbinding term sheet giving them an exclusive negotiation period of 90 days to reach a definitive, binding deal, which would see Sony Pictures Entertainment Inc., the parent of SPNI, infuse approximately $1,575 million. The investment plan is designed to "enhance the combined company's digital platforms across technology and content, abi...

Kyodo News

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