Zee Entertainment shares zoom nearly 32 pc after merger announcement with Sony Pictures

Shares of Zee Entertainment Enterprises Limited on Wednesday zoomed nearly 32 per cent after announcement of a merger with Sony Pictures.

Leading media firms Zee Entertainment and Sony Pictures on Wednesday said they have received in-principle approval for a merger that will combine both companies’ linear networks, digital assets, production operations, and programme libraries.

The stock jumped 31.86 per cent to close at Rs 337.10 on the BSE. During the day, it rallied 39 per cent to its 52-week high of Rs 355.40.