The Zee-Sony merger chapter of the Indian broadcasting industry seems to be in choppy waters. While Zee asked Sony for an extension on the merger timeline, the latter on Tuesday issued a statement saying that ZEE’s notice is an acknowledgement that they will not be able to meet the merger deadline.

However, the Indian broadcasting industry is speculated to have another merger in the works – the one between Disney Star and Viacom18.According to earlier media reports, Disney is close to finalising an agreement with RIL. Post which, RIL is expected to enjoy a controlling stake in the Disney Star business, with the US entertainment giant likely to hold on to a minority stake.

Time will tell whether the two mergers will go through or not. However, this is where their market value stands, as per current estimates.

Disney Star- Viacom18 

Currently, Disney Star owns over 70 TV channels in eight languages, a streaming platform Disney+ Hotstar and a film studio, whereas Reliance’s broadcast division Viacom18 owns 38 TV channels in eight languages, a digital streaming platform - Jio Cinema - and a film studio Viacom18 Studios.

According to Elara Capital, while Disney Star has 32% share in the ad market, Viacom18 has 11% ad market share. The merged entity will have 43% ad market share with over 100 TV channels, two streaming platforms and two film studios.Disney Star’s operating revenue for FY23 was Rs 19,857 crore while for Viacom18 it was Rs 4,554 crore.

Zee-Sony 

The FY23 operating revenue for Culver Max Entertainment Private Limited, formerly known as SPNI, stands at Rs 6684.9 crore. The network runs 26 TV channels, a streaming platform – SonyLIV - and Studio NEXT, an independent production venture for original content and Sony Pictures Films India.

On the other hand, ZEEL’s operating revenue for FY23 is at Rs 8087.90 crore. The network has 50 channels in 11 languages, a streaming platform - Zee5 – Zee Studios, a film production company, and a music arm - Zee Music.

As earlier reported by e4m, if the merger takes place, the merged companies will own over 70 TV channels, two video streaming platforms – ZEE5 and Sony LIV – and film studios – ZEE Studios and Sony Pictures Films India – with a market share of 26%.