Zee-Sony to sell three Hindi channels to allay CCI concerns

Culver Max Entertainment or CME (formerly Sony Pictures Networks India) and Zee Entertainment Enterprises have decided to sell off three Hindi channels, Zee Action, Big Magic, and Zee Classic, in order to address the anti-competitive concerns expressed by the Competition Commission of India (CCI).
In a 58-page order, which approved the proposed merger, the watchdog stated that all possible competition concerns in India are sufficiently addressed now. An approval has been given by CCI, with certain modifications which have been proposed by CME and Zee on October 4.
According to it, in its detailed order, the details of these changes would be shared.
It stated: “With consideration of the material on record, the submissions which have been made by the notifying parties during the time of the oral hearing on September 29, and thereby followed by written submissions which were made on September 30 and October 4, and the factors which have been provided under sub section (4) of Section 20 of the Competition Act, 2002, the commission stated the opinion that the prima facie concerns of a probable considerable unfavourable impact on competition are addressed by the composite voluntary remedy which is proposed by the parties under Regulation 25(1A), and it was decided by the commission to not proceed with the investigation any further. According to the note, the proposed combination under sub-section (1) of Section 31 of the Act, is thereby approved by the commission, and is subject to the conformity of modifications which are provided by the notifying parties under Regulation 25(1A) of the Combination Regulations.”

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