Redrawing the media map: Firms are discovering they are better together

Sony-Zee merger caps the massive round of consolidation in the media and entertainment space that is on the cusp of change

Earlier this month, Zee Entertainment Enterprises got the Competition Commission of India’s approval for its proposed merger with Culver Max Entertainment (formerly Sony Pictures Networks India). The approval is conditional. Zee, which turned 30 this month, needs to put in place remedies, which have not been disclosed, to allay the regulator’s concerns.

The National Company Law Tribunal, the Ministry of Information and Broadcasting, the Income Tax department, the Registrar of Companies, among others, still have to give their “no-objection” to the merger. Then, there is the delisting of Zee, the actual merger and the listing of the “as-yet-unnamed” merged company. It