$10 bn Zee-Sony merger deal collapses after 2 yrs of talks
Setback to Zee as Sony sends termination letter; cites failure to fulfil agreement as reason behind deal collapse
Setback to Zee as Sony sends termination letter; cites failure to fulfil agreement as reason behind deal collapse
Sony Group says it is engaged in ongoing talks regarding a potential merger between its Indian subsidiary and Zee
The deal which was signed on December 21, 2021, to create the country’s largest media and entertainment conglomerate worth $10 billion, had an initial deadline of January 2023
The company’s statement comes a day after ZEE sought more time for the proposed merger with Sony Pictures Network India, now known as Culver Max Entertainment Private Limited.