Zee Entertainment stock jumps 30% after merger announcement with Sony Pictures

Zee Entertainment and Sony Pictures on Wednesday said they have received in-principle approval for a merger that will combine both companies' linear networks, digital assets, production operations and program libraries.

New Delhi: Shares of Zee Entertainment Enterprises Limited on Wednesday zoomed 30 per cent after announcement of a merger with Sony Pictures.

Leading media firms Zee Entertainment and Sony Pictures on Wednesday said they have received in-principle approval for a merger that will combine both companies' linear networks, digital assets, production operations and program libraries.

The stock jumped 30.50 per cent to its 52-week high of Rs 333.70 on the NSE.