In one of the biggest media stories this year, it seems a reported merger between Sony Pictures Networks and Mukesh Ambani’s TV18 could create the largest media company in India after Disney Star.
Rumours over the past few weeks have been rife about Sony expressing interest to acquire TV18. If talks advance, then the likes of Sony Entertainment Television and Colors will become sister channels. The combined entity will consist of 63 channels, 4 movie studios, 2 digital platforms (OTT) and 2 digital content studios.
In a number of tweets posted by Economic Times’ Assistant Editor, Gaurav Laghate, it is said that the deal is expected to see Sony Pictures Networks owning 51 per cent stake in the joint venture, with TV18 holding 49 per cent.
Laghate says that Sony’s top bosses, CEO Kenichiro Yoshida, and Mike Hopkins, Chairman of Sony Pictures Television (SPT) will be in Mumbai on 9th December, looking at advancing talks ahead of the merger.
At the time of filing this article, both companies had been contacted by BizAsiaLive.com but was awaiting a revert.