Post-merger, SPNI will take on another dimension: MD- CEO NP Singh

Sony Pictures Networks India (SPNI) and Zee Entertainment Enterprises Ltd (ZEEL) have signed a definitive agreement to merge businesses. Upon closing, the strength of the combined entity will create a company with vast resources to compete with the world's largest domestic and global platforms vying for market and audience share.

In an internal communication with the employees, SPNI MD- CEO NP Singh said that he is delighted to be on the board of the merged company, “providing strategic guidance and support to the operating team in achieving our vision. In addition, I will be overseeing all SPE investments in India while also identifying new growth opportunities to amplify Sony's footprint in India,” he said.

Thanking everyone for this, Singh said: “We have collectively created a robust business which would not have been possible without your passion, commitment and hard work. I am immensely proud of all your achievements through the years. Today, we have signed definitive agreements to merge the two companies. So, congratulations to each one of you. The agreements follow the conclusion of an exclusive negotiation period during which the two conducted mutual due diligence. After closing, the new combined company will be publicly listed in India. The closing of the transaction is subject to certain customary closing conditions, including regulatory, shareholder, and third-party approvals.”

While mentioning about his upcoming role as Chairman, Sony Pictures India, a division of SPE, he said: “Backed by your dedication and perseverance, SPNI is a very profitable business and once merged, it will take on another dimension, become much larger and open many opportunities for you. Your contribution, unstinted commitment and cooperation is the mantra to take us through the years ahead. I am counting on your continued support.”


News in the domain of Advertising, Marketing, Media and Business of Entertainment