Zee-Sony Merger Gets CCI Conditional Nod

The Competition Commission of India has granted conditional approval to the merger of Zee Entertainment with Culver Max Entertainment (formerly Sony Pictures Networks India). Apart from Zee Entertainment, Bangla Entertainment, an indirect-wholly owned subsidiary of Sony Group will be merged with with Culver Max Entertainment. Analysts believe that the stock price of Zee Entertainment could give 30-40 % upside over next 7-12 months as by that time merger will be done, corporate governance issues will be resolved as merged entity will be a Sony dominated board and Ad revenues will be back.

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