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Report: Sony again talking with Essel to buy majority stake in Zee

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Report: Sony again talking with Essel to buy majority stake in Zee

Japan's Sony Corp. has reinitiated talks with Essel Group to buy a majority stake in Indian media company Zee Entertainment Enterprises Ltd., CNBC-TV18 reported May 28, citing sources familiar with the matter.

Sony and Essel Group have been in talks over deal valuation and the structure of the deal, the sources said. In April, a potential deal between Zee Entertainment and Sony was scrapped due to differences in valuation.

Earlier this year, Comcast Corp. and investment firm Atairos Management LP were also shortlisted in deal negotiations for stakes in Zee after submitting nonbinding bids.