Zee-Sony well-positioned to compete with domestic & global players: Punit Goenka
In an internal email to employees, the ZEEL MD & CEO said the combined company is expected to drive immense synergies and will redefine entertainment across genres, screens, and languages
ZEEL MD & CEO Punit Goenka is a relieved man as the merger deal between Sony Pictures Networks India Private Limited (SPNI) and Zee Entertainment Enterprises Ltd. (ZEEL) has been officially signed and sealed.
In an internal email to employees, Goenka said that the Zee-Sony merger is a significant day for the company. He also said that the combined company is well-positioned to compete with the domestic and global players in the ecosystem.
"I am extremely happy to share a key development with all of you. We have signed on the dotted line and sealed the definitive agreement with Sony for the proposed merger. This is a significant day for all of us, and before I get on to my interactions with the media and investor fraternity, I wanted to share this news with all of you. This is indeed a positive step forward towards the proposed merger, which aims at creating a leading media & entertainment company," the email reads.
He further stated, "This would not have been possible without the relentless efforts by the teams at both ends. The combined company is expected to drive immense synergies, and it will be well-positioned to compete with the domestic and global players in the ecosystem. Together, we will redefine entertainment for our consumers across genres, screens, and languages around the world."
Goenka also said that ZEEL is recognised as a media and entertainment powerhouse thanks to the efforts of its committed workforce. "I remain immensely grateful to you for your dedication and hard work. The consistent efforts sown in by all of you to make ZEE a truly all-encompassing media & entertainment powerhouse is for all to see. We are recognized as a pioneer and now is the time to build on this momentum and accelerate growth, enabling us to generate more opportunities and create higher value for all our stakeholders."
He also asked ZEEL employees to stay focussed on their work and gear up for the future. "As we move ahead with the next steps in this merger, seeking the necessary approvals, I would urge you to stay focused on your work commitments and gear yourselves for an exciting new future. Like always, I will keep you all apprised on the progress. Once again, I would like to thank you all for your contribution in making today's announcement possible."
