Reuters was first to report that a unit of Japan’s Sony Group and India’s Zee Entertainment have proposed offering concessions such as pricing discounts to help ease the concerns of the country’s antitrust regulator over their merger, which will create a $10-billion TV behemoth. The concessions are a bid to iron out antitrust worries of the Indian antitrust watchdog that had warned the companies of further scrutiny. Reuters has dominated the coverage of the antitrust hurdles in the Sony-Zee merger, seen as one that would give the Japanese giant a stronger foothold in India. Shares in Zee fell 6% this month after Reuters reported the Indian watchdog had confidentially told the companies their “humongous market position” would allow them to enjoy “un-paralleled bargaining power” with 92 channels in India’s massive media and entertainment market, flagging several antitrust concerns. Lawyers and former antitrust officials have told Reuters the deal may need to undergo changes and an approval will be delayed.
The post Reuters reveals Sony, Zee offers concessions to ease India worries over mega merger appeared first on Reuters News Agency.