Campaign India Team
Jun 21, 2023

Sony Pictures Entertainment breaks silence on Zee merger

Releases a statement from its headquarters amid speculation over the merger and SEBI's interim order

Sony Pictures Entertainment breaks silence on Zee merger

Due to mounting speculation, Sony Pictures Entertainment (SPE), released a statement from its headquarters surrounding its merger with Zee. 

 

SEBI (Securities and Exchange Board of India) has released an interim order against Subhash Chandra and Punit Goenka, former members of Zee. 

 

The regulatory body has imposed a one-year ban on Chandra and Goenka for misappropriation of the listed entity's funds. 

 

In 2021, The two media companies signed agreements to combine their linear networks, digital assets, production operations and program libraries. 

 

The statement shared by SPE on the issue at hand read, “There have been several erroneous press reports recently speculating about the future of ZEE’s planned merger with SPNI following SEBI’s interim order against Subhash Chandra and Punit Goenka. We take very seriously the SEBI interim order and will continue to monitor developments that may affect the deal.”

Source:
Campaign India

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