NCLT approves Zee-Sony merger; Zee stock gains 18%
The National Company Law Tribunal (NCLT) has given the green light for the merger of Zee Entertainment Enterprises Ltd. and Sony Pictures (Culver Max Entertainment). The approval has set the stage for India's second-largest media and entertainment powerhouse. It has come nearly two years after the merger was first announced in December 2021. Zee's share prices surged nearly 18% after the order.