 "Sony-Zee merger expected to be completed by September: Sony CEO Yoshida")
Sony Picture Networks India (SPNI) and Zee Entertainment Enterprises Limited (ZEEL) are likely to complete their merger by the first half of the ongoing financial year ending March 31, 2024, a report published in The Economic Times (ET) quoted Sony Corp CEO, Kenichiro Yoshida. The CEO was speaking at the company's annual corporate strategy meeting.
Elaborating on the subject, the top official said that this is the opportune time for the media and entertainment industry in India and can result in accelerated growth given its large population and an equally large creative talent in the country, the newspaper reported.
Yoshida said that India has become the most populous country in the world and this has created innumerable opportunities for growth and this is especially true for the entertainment industry. He added that India is a creative country and has produced the most number of films globally since 2005.
The President of Sony, Hiroki Totoki was also present at the meeting. He talked about how the company began its journey in India with electronic products and later expanded into the entertainment space. He noted, currently, the entertainment part of Sony's business is bigger than electronics in the country, ET reported.
He also talked about Sony Music Entertainment India's business in India which holds more than 20 per cent market share in the country. He said that Sony's core philosophy is to deliver 'kando' (emotional connection) to the world.