Sony-Zee merger expected to happen by September 2023: Sony Corp CEO
The much-anticipated merger of two of India’s biggest broadcasting conglomerates Zee and Sony will mostly happen in September this year, said Sony Corp CEO Kenichiro Yoshida during an annual meeting. Yoshida said that Sony’s merger with ZEEL will most likely take place “by the end of the first half of this fiscal year.” He added that the Indian media and entertainment market is primed for accelerated growth thanks to the country’s large population and creative talent. Calling India a “creative country,” the Sony Corp chief said that there are many growth opportunities in India, especially in entertainment. It has also gained a reputation as the biggest producer of films since 2005. He also highlighted India’s young audience who make up half the country’s population and are below the age of 30. Genres like anime and gaming, therefore, have a great potential for growth in India, he added. Hiroki Totoki, Sony President, COO and CFO, also said that India holds a greater promise for entertainment than electronics, which was the company’s original focal point when it started its India journey 25 years ago.
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