The National Company Law Tribunal (NCLT) has given its approval for the merger of Zee Entertainment Enterprises and Culver Max Entertainment (earlier known as Sony Pictures Networks India). This order by the Mumbai bench will pave the way for the creation of a $10 billion media company, the biggest in the country.
The tribunal also dismissed all objections regarding the merger. The NCLT, on July 11, had reserved its order on the merger after hearing objections from several creditors. It heard arguments from creditors, including Axis Finance, JC Flower Asset Reconstruction Co, IDBI Bank, Imax Corp and IDBI Trusteeship.
Zee Entertainment Enterprises is one of India’s leading television media and entertainment companies. It is amongst the largest producers and aggregators of Hindi programming in the world.
Company Name | CMP |
---|---|
Zee Entertainment | 133.70 |
Sun TV Network | 631.55 |
GTPL Hathway | 171.40 |
TV18 Broadcast | 43.60 |
Den Networks | 49.35 |
View more.. |