Adani-owned AMG Media Networks likely to acquire equity in ZEE

Gautam Adani’s AMG Media Networks is likely to acquire a stake in ZEE Entertainment Enterprises Limited (ZEEL).

The news comes just days after Sony Pictures Networks terminated its merger plans with ZEEL. Exchange4Media reports that AMG Media Networks is likely to make an offer beyond 26 per cent.

The news was hinted by Sanjay Dutt, Director of Quantum Securities, in a tweet. He said, “AMG seems a done deal. Insiders chatter and rumours that it’s tied up and final touches being given. Well, “the opera ain’t over until the fat lady sings!”

Dutt was a shareholder in NDTV and had entered into litigation with Dr Prannoy Roy who eventually sold NDTV to AMG.

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