The Indian Competition Authority provisionally approves the merger of two domestic broadcast media giants following voluntary divestments by the merging parties (Zee / Sony Group)

On 4 October 2022, the Competition Commission of India (CCI) conditionally approved the proposed merger of Zee Entertainment Enterprises Limited (ZEE) and Sony Group Corporation (SGC) in India (the proposed transaction). The merger between the two leading players in the broadcasting sector would create the largest television broadcaster in India. To address the initial concerns of the CCI, the parties successfully offered voluntary divestments to the CCI, resulting in a phase one clearance of the proposed transaction. Proposed transaction The proposed transaction involved: the amalgamation of each of ZEE and Bangla Entertainment Private Limited (BEPL), with and into an indirect subsidiary of SGC, Culver Max Entertainment Private Limited (CME) (ZEE, BEPL and CME are together referred to