Punit Goenka agreed to step down; will explore legal action: Zee on Sony s termination notice: Best Media Info bestmediainfo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bestmediainfo.com Daily Mail and Mail on Sunday newspapers.
Sony ended the merger deal, which was announced two years ago, as they could not agree on some deal conditions, and has also sought $90 million in termination fees from Zee
Zee-Sony merger termination to have negative impact on both, potential threat from RIL-Disney merger: Karan Taurani: Best Media Info bestmediainfo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bestmediainfo.com Daily Mail and Mail on Sunday newspapers.
Sony Group Corp has called for a board meeting on Friday, where its expected to take a call on the $10-billion merger of its India operations with Zee Entertainment Enterprises, said people with knowledge of the matter.
People close to Sony said the multinational has offered Punit Goenka the role of advisor at the new company, but said he should not be on the board, pending regulatory investigations. As of now, Goenka as boss of new merged co, failing financial health, unmet conditions are being seen as key hurdles to the deal going through.