Anurag Batra is the Chairman & Editor-in-Chief of the BW Businessworld Group and the Founder & Editor-in-Chief of the exchange4media Group. Anurag Batra is a serial entrepreneur, media mogul, a journalist and an eternal optimist rolled into one. Anurag Batra discusses about the 3C’s that the post pandemic economy embraced lately and the part of Zee Sony merger in this 3C economy. Mr. Batra believes that the Zee legacy should be preserved and strengthened through its merger with Sony.
Anurag Batra is the Chairman & Editor-in-Chief of the BW Businessworld Group and the Founder & Editor-in-Chief of the exchange4media Group. Anurag Batra discusses about the 3C’s that the post pandemic economy embraced lately and the part of Zee Sony merger in this 3C economy.
The media and entertainment sector are an important part of the creative economy. If there are three words that describe the change post pandemic in our professional and personal lives, they would be: Contactless, Collaboration and Compassion. India has embraced the 3C economy wholeheartedly and we are seeing consolidation across the board driven by this new paradigm. According to Anurag Batra, Zee Sony merger is part of this move to the 3C economy. The Zee Sony merger is a welcome development by all measures. Zee is a home-grown Indian Company and its merger with a global heavyweight augur well for the industry as it is bound to drive consolidation and growth while bringing in enhanced investment into the sector.
Anurag Batra hopes that the merger will be approved by all stakeholders, policy makers and regulators, as well as withstand all legal challenges. He considers this essential if they have to grow the media and entertainment industry. According to him, a broadminded approach is needed across the legal, policy & regulatory framework to enable such M&A to pave way for a lively and growth-oriented future for the industry.
Anurag Batra also has a clear view on another perspective that is included here. His belief is that financial investors should not suddenly assume the mantle of strategic partners. If they want to see the creation of value for all stakeholders, they must continue to trust the management and board of the company while establishing appropriate checks, balances and governance controls. This is especially important if the management is always delivering spectacular returns. “Strategic support and inputs would certainly serve as an assist for the management but intervention where none is required is a surefire recipe for long term disaster on the back of some misplaced desire for short term satisfaction”, Anurag Batra said.
With the IPL rights coming up for bidding, Anurag Batra believes that big investments will be needed by multiple players to create a fair, competitive and lucrative field. The combined Zee-Sony be best placed to be the top challenger in the mix. The immense opportunities the combined entity would be able to create in terms of employment generation can be transformative for the entire creative ecosystem which in turn will propel advertiser sentiment and spending.
Anurag Batra points out the contribution of Indian homegrown giant Zee to the betterment of various socioeconomic indicators in the last three decades. The company contributed to the betterment of the country across the board - whether through employment generation, pioneering the sector, their gigantic CSR efforts or their unflinching and deep support to the nation during the pandemic. “If we look at India’s business world, homegrown companies such as Amul, Tata, Bajaj and even Zee have been synonymous with the country’s growth – and we must make every attempt to make sure they continue to expand and contribute to the economy”, Anurag Batra shared his opinion.
“We need to preserve the Zee legacy and strengthen it by creating a strong Zee led entity through this merger with Sony”, said Mr. Batra. In the views of Anurag Batra, until more large Indian business houses invest and create larger plays in the sector, the prudent approach would be to encourage consolidation to create larger entities that can compete well and continue driving growth in the sector.
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