ZEE-Sony merger receives approval from stock exchanges

The proposed merger between Zee Entertainment Enterprises NSE -0.42 % (ZEE) and Culver Max Entertainment, earlier Sony Pictures networks India (SPN), has received approvals from the stock exchanges – the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

ZEE said in a statement that approvals mark a “firm and positive step” in the overall merger approval process and permits the company to proceed with the next steps in the overall merger process.