Sony-ZEE merger would result in job losses, admits Punit Goenka
The bulk of employee rationalisation is likely to happen in corporate functions
punit goenka
December 2021
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How ZEE’s Punit Goenka bailed out of an imminent ouster
Apart from Sony, ZEE was also in talks with Reliance for a strategic investment deal
Zee, Sony sign merger deal; Punit Goenka to lead new entity
The combined company will include 75 TV channels, two film studios, two video streaming services, and a digital content studio.
Inside the battle to control ZEE Entertainment
Though ZEE Entertainment MD and CEO, Punit Goenka's exit is imminent, his father, Subhash Chandra is in no mood to give up.
Why investors want Punit Goenka out of Zee
Industry observers hardly find the move surprising. Sources say former Zee chairman Subhash Chandra’s micro-management of ZEE from outside angered the investors.
Subhash Chandra steps down as Zee chairman
Chandra’s resignation as Zee’s chairman marks the end of an era in which he pioneered the growth of private sector broadcast TV in the country. He will remain a board member.
Promoters to sell majority stake in Zee to pare debt
Punit Goenka to reportedly continue as MD and CEO, though it remains to be seen whether the Essel Group will still be classified as promoters with a residual 5% stake.
Promoters sell 11% in Zee to Invesco Oppenheimer
Announcement of the stake sale ends months of speculation regarding the suitor for Zee, and will help promoters deleverage the group’s balance sheet
Zee’s FY19 earnings may aid better valuation
With promoters looking to pare their stake in the media company to repay debt, sound FY19 financial results shine light on the quality of the asset.
Zee Entertainment: A lot at stake
Besieged with debt, the Essel Group is pinning its hopes on a stake sale in crown jewel Zee to help stay afloat. It helps that the broadcaster is at the top of its game and in sync with the times.
