Sony sends termination letter to Zee over India merger
Monday, 22 January 2024 Sony officially terminates the merger with Zee Entertainment, citing unmet conditions and a leadership dispute. The termination follows a stalemate over whether Zee's CEO, Punit Goenka, would lead the merged entity amid an investigation into his conduct. Sony's decision leaves Zee vulnerable to competition as rivals strengthen. The termination letter from Sony came after a 30-day grace period ended over the weekend.
Sony Ends $10 Billion Merger , With India Media Giant Zee.
The deal was called off
on Jan. 22, CNN reports. .
According to Sony, βthe closing conditions
to the merger were not satisfied.β.
However, the company βdoes not anticipate any material impact on its consolidated financial results...
Zee Entertainment dismisses rumours about the termination of the $10 billion merger with Sony India. ZEEL is dedicated to ensuring the successful completion of... IndiaTimes
Sony Corp terminates the $10 billion merger between its India unit and Zee Entertainment Enterprises due to unmet conditions. Disagreements over leadership and a... IndiaTimes
Monday, 22 January 2024
