The Zee Founder Family Will Eventually Raise Its Stake to 26%, Mint Reports
Days after a proposed merger with Sony’s India division failed, Mint revealed on Monday that Zee Entertainment (ZEE.NS)
After two years of discussions, Japan’s Sony (6758.T) closed a $10 billion merger deal with the Indian broadcaster last week.
Often referred to as the
“Father of Indian Television,”
Chandra founded Zee in 1992 and is currently chairman emeritus of the company.
Yes, a sizable sum of money will be required. However, we are adamant that we will not be seeking outside funding. We desire no debt.
Sony and Zee have not said specific terms of the merger were not met, although they had previously disagreed over Zee’s suggestion that its CEO
, head the combined business following Goenka’s involvement in an inquiry by India’s market watchdog.