Sony joins Zee Channel. Goyanka will continue as MD
Following the merger of Zee and Sony Pictures Network India (ZEEL-Sony Merger), the Board of Directors of ZEE Entertainment Enterprises (ZEEL) unanimously approved that Punith Goyanka may continue as Managing Director (MD) and CEO (CEO). Today is the biggest day in the Indian media industry. Two of the biggest giants in the media industry have come together today.
ZEE operates TV channels in 10 regional languages, including Zee Tamil. With more than 100 channels in 10 languages, Jill has a market share of 19%, reaching over 190 countries.
What is special is that the TV alone has over 2.6 lakh hours of content. Apart from this, the company is performing better with Zee5 on the digital platform. Apart from these, 25 per cent of films in the country are viewed on the ZEE Network.
The continuation of Puneet Goenka as Managing Director and CEO of the affiliated company is an integral part of the proposed merger, ”the company said in a statement. The company is ultimately run by top executives and leadership providers and Puneet Goenka did it for Zee Entertainment, said Anil Singhvi, Zee Business Managing Editor.
When Zee Entertainment ‘and Sony India merge to form a new company, it will become India’s largest entertainment company with 70 TV channels, 2 video streaming services and two cinema studios. Following the announcement of the merger, Zee Entertainment’s share price rose 30.50 percent to 333 rupees on the National Stock Exchange.