SONY PICTURES NETWORKS INDIA SIGNS EXCLUSIVE NON-BINDING TERM SHEET WITH ZEE ENTERTAINMENT
Sony Music Entertainment - 09/22/2021
Combined Company Would be a Market Leader Across Genres & Languages in Linear and Digital Distribution
[Mumbai -- September 22, 2021] Sony Pictures Networks India (SPNI) and Zee Entertainment Enterprises Ltd. (ZEEL) today announced that they have entered into an exclusive, non-binding Term Sheet to combine both companies' linear networks, digital assets, production operations and program libraries. The non-binding Term Sheet provides an exclusive negotiation period of 90 days during which ZEEL and SPNI will conduct mutual diligence and negotiate definitive, binding agreements. The combined company would be a publicly listed company in India and be better positioned to lead the consumer transition from traditional pay TV into the digital future.
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