Sony Group Corp. and Zee Entertainment Enterprises Ltd. have a one-month grace period from December 21 to close the merger of their India operations, creating a $10 billion media conglomerate. Zee has requested an extension, and Sony is open to negotiations on the remaining closing conditions. The deal faced drama and delays, with reported disagreements on leadership.
In a statement, the Sony Group Corporation-owned company said Zee has acknowledged that it will not be able to meet the deadline. SPNI said it looks forward to hearing ZEEL s proposals and how it plans to meet the remaining key conditions.
Sony Pictures Entertainment and Zee Entertainment Enterprises have agreed to extend the deadline for their $10bn merger by 30 days after failing to find common ground in negotiations.