ZEEL to shutdown “major entertainment channel” in bid to merge with Sony
ZEE Entertainment Enterprises Ltd is reportedly planning to shutdown a “major entertainment channel” as a part of concessions to merge with Sony Pictures Networks.
The plan has been considered to ease competition concerns and secure the Competition Commission of India’s (CCI) approval for their $10 billion merger.
LiveMint reports that the “major entertainment channel” currently has a huge 20-30% market share. Rumours surfacing online indicate that it could be one of the Marathi TV channels ran by ZEEL.
Keep it with BizAsiaLive.com for more.