Zee Entertainment Enterprises Private Limited and Sony Pictures Networks Private Limited is decided to sell three Hindi existing Television channels to some other broadcaster. The broadcasters submitted their proposal to the Competition Commission of India (CCI), which gave conditional approval on 4th October. The CCI made public its detailed 58-page order, specifying the channels that would be dropped. Zee and Sony have agreed to sell Big Magic (Hindi General Entertainment), Zee Action (Hindi Movies), and Zee Classic (Hindi Movies) to address anti-competition concerns arising out of their proposed merger.
All three Television channels belong to the Zee Network. While Big Magic is a Hindi general entertainment channel, Zee Action and Zee Classic are Hindi Movie channels dedicated to Action and 70s, and 80s golden era movies. One of the conditions indicated by CCI in its order was that the purchaser of the channels to be offloaded would not be Disney Star India or Viacom 18, both rivals to Zee and Sony.
Specifically, the order said that the purchaser would be independent of and with no connection whatsoever with the resultant entity and its affiliates. The Zee-Sony merge will become India’s second-largest broadcasting network by revenue with over 75+ television (TV) channels, along with two video streaming services such as Zee5 and Sony Liv. It will also house two film studios such as Zee Studios and Sony Pictures Films India and a digital content studio “Studio NXT”.
As per sources, IN 10 Media Private Limited and Times Television Network may buy these 3 channels to increase the channel portfolio and introduce Hindi Movie Channels in India as Both broadcasters don’t have Hindi Movie channels and Times Network was planned to start its own Hindi movie channels.
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