Sony s two-year pursuit of a merger with Indian media house Zee Entertainment Enterprises has become an unwitting farce, as the Securities and Exchange Board of India has alleged that Zee faked loan recovery. For Bloomberg columnist Andy Mukherjee, the ambitious merger was doomed from the start
The television market in India is large, but its best days are in the rear-view mirror. So although the Zee network reaches 750 million people, its market share of 16.6% is stagnant
Sony Group should cut its losses and abandon its pursuit of a merger with Indian media giant Zee Entertainment Enterprises, argues Bloomberg s Andy Mukherjee. The Securities and Exchange Board of India (SEBI) have barred Zee s founder Subhash Chandra, and his son, Punit Goenka, from any executive roles at listed firms for allegedly faking loans owed. While shares in Zee have fallen 50% following the news, Mukherjee suggests Zee would regret not selling to Mukesh Ambani s Reliance Industries following its failed merger talks with Invesco Developing Markets Fund, which would likely have resulted in the Chandras exit.
The National Company Law Tribunal (NCLT), on Friday, rejected IDBI Bank's insolvency plea against Zee Entertainment. The bank had applied for insolvency to recover dues ..