Indians love their movies. But global entertainment firms don’t like being in India that much. They have refrained from active investment; their movie production operations are more or less defunct. What explains this disenchantment? Here’s one answer: “You can’t run the country on a tourist visa.”
Zee Entertainment Enterprises announced on Tuesday the formation of a committee to assess its management s business performance and offer guidance. This follows recent failed entertainment deals, including a scrapped $10 billion merger with Sony India and a $1.4 billion cricket broadcasting agreement with Star India.
Sony Group has reportedly moved to the NCLT and challenged the Zee Entertainment s plea on merger enforcement. The NCLT is set to hear the plea on March 12
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.