SONY’S India unit finalised its merger plans with local broadcasting giant Zee Entertainment on Wednesday (21) in a deal that may yet be blocked by fierce opposition from a disgruntled US investor.

Analysts say the arrangement could create the country’s second-biggest entertainment network, rivalling market leader Disney.

The proposal gives Zee’s founding family four per cent of the new entity but keeps them in management control, with chief executive officer and managing director Punit Goenka to continue at the helm.

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