Sony remains hopeful about India, considering options post-Zee merger setback, states company representative.

Hiroki Totoki, serving as President, COO & CFO of Sony, expressed optimism regarding the company's future endeavors in India. During a recent earnings call held on February 14, Totoki acknowledged the termination of the proposed merger between Sony's Indian arm and Zee, yet reaffirmed Sony's dedication to the Indian market. He emphasized India's substantial long-term growth potential, deeming it an attractive market worthy of continued exploration.

Despite the setback of the failed merger, Sony remains resolute in its pursuit of growth opportunities within India. Totoki indicated that the company would actively seek alternative avenues to replace the abandoned merger plan, demonstrating a commitment to adaptability and resilience in the face of challenges.

During the investors' call, Totoki assured stakeholders that Sony's strategic approach in India would persist, focusing on organic growth strategies. Sony currently operates in India through Culver Max Entertainment, formerly known as Sony Pictures Network India. Totoki's remarks underscored the company's ongoing dedication to leveraging its established presence and strategic framework to capitalize on India's dynamic market landscape.

Addressing concerns surrounding the previously committed investment as part of the failed merger, Totoki clarified that any alterations in investment plans would not affect Sony's capital allocation or investment behavior. At present, Sony has no concrete plans regarding the allocation of funds earmarked for the proposed merger. Under the terms of the agreed-upon merger conditions between Sony and ZEEL, Sony was slated to invest $1.5 billion in the merged entity. However, with the dissolution of the merger agreement, Sony now faces the task of reassessing its investment strategy and determining the most prudent course of action moving forward.

In essence, despite the setback posed by the terminated merger with Zee, Sony remains steadfast in its commitment to the Indian market, actively exploring alternative avenues for growth and reaffirming its long-term strategic focus on India's promising market landscape.