The proposed merger between Zee Entertainment Enterprises Limited and Sony’s TV operations in India has finally been given a green light – nearly two years after the deal was first announced. The merged entity’s estimated value is some $10 billion.

The regulatory green light came in the form of an oral order made Thursday by the Mumbai Bench of the National Company Law Tribunal.

The deal is intended to combine the two companies’ linear TV networks, digital assets, production operations and program libraries.

According to the plans announced in September 2021 and finalized in December 2021, the merged company would retain Zee’s stock market listing in India. But Sony would provide a large cash injection and control a majority share stake of close to 51%.

More to follow.

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