Sony is reportedly evaluating the proposal from Zee
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Among OMG’s agencies, OMD Worldwide continues to dominate, with COMvergence projection 2024 billings of $25.9 billion, a 7.9 per cent increase over 2023
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According to 2023 numbers, the combined company would generate over $20 billion in revenue, making it a strong rival to market leaders WPP and Publicis Groupe
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These business divisions will continue to concentrate on their three product portfolios: millet-based goods, ready-to-drink goods, and ready-to-cook/ready-to-eat goods
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The merger between the two media powerhouses was pending clearance from the anti-trust regulator to ensure that a proposed merger or acquisition does not create an unfair monopoly or reduce competition in the market
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Under the terms of the settlement, none of the parties will have any outstanding or continuing obligations or liabilities to the other
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Meanwhile, media reports say Viacom18 and Walt Disney's Star India are trying to materialise the merger by October
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The merger will be completed by the year-end
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Walt Disney (36.63 per cent), Digital18 (46.11 per cent), and RIL (16.34 per cent) will share ownership of Star India after shares are allotted to Digital18 and RIL
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Earlier this week, Zee revealed via a regulatory filing that it had spent Rs 432 crore on the failed merger between 2022-23 and 2023-24
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