Sony eyes up to 30% stake in Mukesh Ambani's Network18 after Zee bid failed

Sony, said sources, is expected to evaluate its options carefully owing to regulation around foreign direct investment in media

Japanese major Sony Corporation is in preliminary talks with Mukesh Ambani’s Network18 Media & Investments for a possible stake buy, making it the second attempt by the group in 10 months for a local acquisition. 

In March, Sony had emerged the front runner to acquire a 20 per cent stake in Zee after the promoters of the latter said they were ready to offload up to half their shareholding to a strategic investor.

The talks had eventually fallen through over a valuation mismatch, forcing the Japanese major, which runs a bouquet of entertainment channels in the country, to look elsewhere, said persons