Zee-Sony merger: Groups agree to sell 3 Hindi channels to address anti-competition concerns

New Delhi, 26/10: Media groups Sony and Zee have voluntarily agreed to sell three Hindi channels — Big Magic, Zee Action and Zee Classic — to address possible anti-competition concerns arising out of their proposed mega-merger deal.

They submitted their proposal to the Competition Commission of India (CCI), which cleared the deal subject to certain modifications on October 4. More than three weeks after giving its nod for the transaction, the regulator on Wednesday made public its detailed 58-page order.

The two groups have agreed to divest Big Magic, which is a Hindi general entertainment channel, as well as Zee Action and Zee Classic, which are Hindi film channels, according to the order.