Competition Commission gives conditional approval to Sony-Zee merger deal

Deals beyond certain thresholds require the approval of the CCI, which keeps a tab on unfair business practices and also promotes fair competition in the marketplace.

Written by PTI

Updated: October 4, 2022 19:43 IST

The regulator had issued show cause notices to the parties after it initially concluded that the deal could have an adverse impact on competition, the sources said.

The Competition Commission of India on Tuesday approved with certain conditions the mega-merger deal between media groups Sony and Zee.In a tweet, the watchdog said it has cleared the deal with certain modifications. The proposed merger was announced in September last year.

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ZEEL, in September 2021, said it has entered into a non-binding term sheet with SPNI to bring together their linear networks, digital assets, production operations and programme libraries.The combined entity will own over 70 TV channels, 2 video streaming services (ZEE5 and Sony LIV) and two film studios (Zee Studios and Sony Pictures Films India), making it the largest entertainment network in India, ZEEL said in September last year.

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This article was first uploaded on October four, twenty twenty-two, at sixteen minutes past seven in the evening.