India’s National Company Law Tribunal gave the approval for the mega merger of Zee Entertainment and the Indian unit of Sony Group.
The Sony-Zee combination — which was announced in 2021 — stands to become a $10 billion industry player and will compete with Walt Disney India and billionaire Mukesh Ambani-owned Network18.
The deal has faced several setbacks in regulatory approvals from India’s stock exchange and antitrust authority. Last year, Zee and Sony offered concessions such as pricing discounts to help ease concerns and receive antitrust approval.
Sony had been aggressively pursuing Zee for its wide slate of regional Indian language programs. The new entity’s potential market share across Indian TV is 25 percent, with a total of 75 channels.
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