SONY PICTURES NETWORKS INDIA AND ZEE ENTERTAINMENT ENTERPRISES LTD. SIGN DEFINITIVE AGREEMENTS TO MERGE

 - Combined Company to Deliver Premium Content with a Robust Consumer Experience across Platforms -

 - Synergies between SPNI & ZEEL to enhance the Combined Company’s Content Creation Capabilities and Drive Digital Platform Growth -

[Mumbai -- December 22, 2021] Sony Pictures Networks India Private Limited (SPNI) and Zee Entertainment Enterprises Ltd. (ZEEL) today announced that they have signed definitive agreements to merge ZEEL with and into SPNI and combine their linear networks, digital assets, production operations and program libraries. The agreements follow the conclusion of an exclusive negotiation period during which ZEEL and SPNI conducted mutual due diligence. After closing, the new combined company will be publicly listed in India. The closing of the transaction is subject to certain customary closing conditions, including regulatory, shareholder, and third-party approvals.

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