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Media & Entertainment

Sony and Zee reach merger deal amid shareholder dispute

New entity aims to be India's top entertainment powerhouse

Zee and Sony have agreed to merge, creating one of India's largest media and entertainment companies. (Source photo by AP and SPN website)

BENGALURU -- Zee Entertainment has signed a final agreement to merge with Sony Pictures Network India (SPNI) to create one of India's largest media and entertainment entities, the companies said in a joint statement on Wednesday.

Sony Pictures Networks, which owns SPNI, will control 50.86% of the merged entity, while the founders of Zee will hold 3.99%. Public shareholders of Zee will hold the rest.

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