Zee Entertainment has clarified that there is no transaction with Viacom 18 being undertaken.
Responding to news reports about a potential merger of Viacom18 and Zee Entertainment Enterprises Limited through a share swap deal, Zee Entertainment said in a regulatory filing, "We herewith confirm that there is no such transaction being undertaken and the matter is speculative in nature."
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The report said that the merger of Viacom18 and Zee is proposed to be done through a share swap deal. The talks started a few weeks ago, and the deal is unlikely to involve any cash transaction.
The merger could create a large media firm with interests spanning broadcast, OTT, live entertainment and movie production, the report said.
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