Once India’s most profitable entertainment company, Zee’s a shadow of its former self and may be easy pickings for its one-time suitor Reliance.
On Monday, Bloomberg reported that Sony Group Corp. is likely to pull out of a proposed merger of its Indian operations with Zee Entertainment Enterprises. The report, though missing a confirmation from either Sony or Zee, was carried by other news agencies as well. And, yesterday, The Economic Times went on to offer readers the “inside story of what went wrong over two years” with the $10 billion merger.
That sent the Zee stock tumbling 8% as investors seemed clearly spooked by the news. The change in sentiment comes at a time when the company’s shares were on the …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai