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Sony India to continue exploring M&AS: CEO N.P. Singh
Mint Mumbai
|January 25, 2024
N.P. Singh, managing director and chief executive of Sony Pictures Networks India (now Culver Max Entertainment Pvt.Ltd), has sought to assure employees that the company has long-term plans for expansion in the country despite ending merger talks with Zee Entertainment Enterprises Ltd.
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The merger would have catapulted the combined entity to the second position in terms of market share in India, behind Disney Star's 30%. Sony currently has 7-8% market share.
"As we transition from this phase, I am, along with the senior management team, committed to setting the company up for a long-term, strong future. We will actively explore new organic and inorganic possibilities to strengthen our market presence," Singh wrote in a letter on Wednesday addressed to employees.
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