Zee Entertainment Enterprises on Tuesday reported a 140.74% year-on-year (YoY) jump in net profit at Rs 58.5 crore for the third quarter that ended December 31, 2023.
Last month, Sony scrapped its much-awaited merger with Zee Entertainment, ending a deal that could have created one of the biggest TV broadcasters in India, alleging breaches of contract. Following the Sony action, Zee refuted various alleged breaches of obligations about the merger cooperation agreement.
In January, Culver Max Entertainment (previously Sony Pictures Network India) called off the $10-billion merger with ZEEL after it claimed that Zee failed to meet some financial terms of the deal and come up with a plan to address them.
Zee-Sony merger: Calling the report baseless and factually incorrect, Zee added it is continuing to work towards a successful closure of the proposed merger