Both the companies are committed to the merger that was announced in December last year even if it means shutting down a few channels in select markets, two people with direct knowledge of the matter told ET.
“Both ZEE and Sony have offered concessions to the CCI,” one of them said. “There are a few markets, including Hindi entertainment and a few regional ones, where their combined share will be more than the 40% threshold. Last week they offered remedies, which included shutting down channel(s) to ensure there is no unfair dominance in one market,” the person said.
Between ZEE and Culver Max, they own three flagship Hindi general entertainment channels – Zee TV, Sony Entertainment Television (SET) and Sony SAB. They also own &TV, Sony Pal, and Zee Anmol in the same genre. Similarly, in Hindi movies, the channels include Zee Cinema, Sony Max, &Pictures, Sony Max 2, Sony Wah, Zee Anmol Cinema, Zee Action, Zee Classic, and Zee Bollywood.
“For both ZEE and Sony, the merger is more important than keeping or letting go of one or two channels,” the second person cited above said.
A ZEE spokesperson did not reply to ET’s query till press time Monday.
