Sony has already a significant presence in the media & entertainment sector. For Sony, India is a significant M&E market. It operates in the country through Sony Pictures Networks India (SPNI), which owns and operates 29 channels across genres like Hindi entertainment, sports, and kids.
As per a media report, the company is currently conducting due diligence of Ambani’s Network18 Media And Investments before any possible offer.
Sony is considering several potential deal structures, including a bid for the company or a merger of its own Indian business with Network18’s entertainment channels, but the report added that talks are at a preliminary stage and may not result in a transaction.
Sony had also been in talks with ZEEL promoters to acquire a stake. Sony had made a signification acquisition in 2015 by acquiring the sports business of ZEEL for an aggregate amount of $370 million. The acquisition of Taj Television strengthened Sony’s sports portfolio to take on rival Star India.
Before Network18 acquired ETV Network, Sony was in the race to acquire the entertainment business of the Hyderabad-based company.