NCLT gives nod to Zee-Sony merger

MUMBAI: A company law tribunal has approved the merger between Zee Entertainment Enterprises (Zee) and Sony Pictures Networks India (Sony), paving the way for the creation of a nearly $10-billion media and entertainment giant.

The Mumbai bench of the National Company Law Tribunal (NCLT) on Thursday dismissed all objections to the merger. It had reserved the order a month ago. After the NCLT order, Zee shares ended 18% higher on Thursday to close at Rs 286 on the BSE

The merger, announced in September 2021, has been hobbled by legal fights. First by Zee’s largest shareholder Invesco,