Sony Group Corp. reportedly withdrew its agreement to merge with Zee Entertainment Enterprises Ltd. from India s National Company Law Tribunal, officially terminating the $10 billion media giant plan. Sony had earlier sent a termination notice to Zee on Jan. 22, alleging failure to meet merger conditions. The collapse leaves Sony and Zee vulnerable as rivals like Reliance Industries and Walt Disney create a formidable entity in India s media sector.
Having turned around its operations in the Hindi and Kannada markets, Vaz said the network will sharpen focus on the Marathi and Bengali markets through greater investments in producing content in these markets. Viacom18 owns and operates Colors Marathi, Colors Bangla, and Colors Bangla Cinema channels in these two markets.
Sun TV Network s Q2 PAT rises 14 05% (YoY) to Rs 464 54 crore in FY24: Best Media Info bestmediainfo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bestmediainfo.com Daily Mail and Mail on Sunday newspapers.
The Sun TV Network stock has given a return of 44.39 percent over the last six months. The benchmark Nifty50 index has given a return of 6.12 percent over the last six months.