Zee Entertainment has signed a merger deal with Sony Pictures Networks India Private Limited, the company said in an exchange filing on Wednesday. The markets are keeping a watchful eye on the Federal Open Market Committee (FOMC) upcoming meeting. An internal assessment by the government has shown that consumers of LPG cylinders are willing to pay Rs 1,000 per cylinder, highly placed sources at North Block told CNBC-TV18. Prime Minister Narendra Modi will take part in a wide range of engagements from the Quad Summit 2021 to attending the United Nations General Assembly session as well as meeting US President Joe Biden and his deputy Kamala Harris during his visit to the US. For all these stories and everything in between, here are some top news of the day

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Zee Entertainment signs merger deal with Sony Pictures Networks India

Zee Entertainment has signed a merger deal with Sony Pictures Networks India Private Limited, the company said in an exchange filing on Wednesday.

Puneet Goenka will continue to provide services to the merged company as MD and CEO for a period of 5 years, the company said.

After the deal, promoters of Sony will have the right to appoint the majority of directors to the merged company.