Zee Entertainment, Sony India sign merger agreement; Punit Goenka to be CEO

Sony Pictures Networks India (SPNI) and Zee Entertainment Enterprises on Wednesday announced the signing of definitive agreements to merge the two companies. As per the deal, Sony Pictures Entertainment (SPE) will indirectly hold 50.86% stake in the merged entity, ZEEL founders will hold 3.99% and public shareholders will hold 45.15%. Punit Goenka will be the MD and CEO of entity.