What next for Zee Ent: The answer will only unfold in the coming months

But just getting margins back to 20 per cent does not address the real, structural changes in the market that made this merger imperative

Punit Goenka sounds tired. The managing director and chief executive officer (CEO) of Zee Entertainment Enterprises was talking on its third quarter earnings call on Tuesday this week. It has been three weeks since Culver Max Entertainment (earlier Sony) issued a notice to terminate the merger agreement the duo signed in December 2021. For more than two years, everything that one of India’s largest broadcasters was doing – from shutting businesses in Russia or Thailand or channels like Big Magic and Big Ganga – was to meet regulatory approvals and the ‘conditions precedent’ to the merger. All the effort and