The Sony Group announced that it has agreed to invest more than 130 billion yen to merge an Indian subsidiary that handles online distribution with a major local broadcasting company.
The company is strengthening the entertainment field and aims to expand the media business through the merger.
According to the announcement, a subsidiary of Sony Group, which operates an online distribution business and a broadcasting business in India, has agreed to merge with a major local broadcasting company "Zee Entertainment Enterprises".
Sony plans to invest more than 137 billion yen in the new company after the merger to fund future growth and pay the founders of the broadcasting company.
With a population of 1.3 billion, India is thriving in the entertainment field, with many movies being produced.
The Indian company, to which Sony's subsidiary will be merged, is a major distributor of movies and sports in various languages, with the aim of expanding the media business through the merger.
Sony has set out a policy to strengthen the entertainment field, such as acquiring an American telecommunications company, and has set a goal of increasing the number of customers providing services from more than 100 million to 1 billion.