Zee-Sony merger likely to be called off: The highly anticipated merger between Zee Entertainment and Sony s India arm may not proceed as planned, as Sony is reportedly considering issuing a termination notice before January 20. The merger, which was valued at $10 billion, aimed to create the largest media entity in India.
Shares of Zee Entertainment Enterprises lost nearly 5 percent in intraday trading on Tuesday following a report by Mint indicating that Sony Pictures is unlikely to extend the timeline for the $10 billion merger of its India Business with Zee.
Zee has asked Bangla Entertainment Private Limited (BEPL) and Sony Pictures Networks India, now known as Culver Max Entertainment Private Limited, to extend the date required to make the merger scheme effective