Zee Entertainment merges with Sony Pictures India (Likely Cancelled)

[SVK]

Zee-Sony merger likely to be called off, termination notice to be issued by Jan 20: Report

Zed Entertainment and Sony's India division may not merge after all, with Sony probably going to give a notice of termination before January 20th, according to reports on Monday. According to news agency Bloomberg, Sony is to back out of the $10 billion deal that would have made it the largest...

economictimes.indiatimes.com

Among the other legal issues has been the inability of the two companies to decide who the leader of the merged entity would be. News agency Reuters reported that Sony was pushing for its Indian operations managing director NP Singh to be the top executive, while Zee was pushing for Punit Goenka.

 

[Rickysin]

Damn! Merge should have happened. Either zee will go bankrupt or Sony. Hate to see one of them go from india’s television space

 

[SVK]

Zee might go bankrupt (due to their arrogance and corrupt practices). Sony might still survive, or they would find some other Indian partner like Sun, Viacom18 (with Disney), or Adani

 

[Rickysin]

we all know to whom zee is politically aligned to so chances of zee going bankrupt is rare lol

 

[SVK]

https://www.reuters.com/markets/deals/sony-sends-termination-letter-zee-over-india-merger-bloomberg-news-2024-01-22/

Unconfirmed reports states Sony is terminating the deal

 

[Sushubh]

Sony Sends Termination Letter to Zee Over India Merger

Sony Group Corp. and Zee Entertainment Enterprises Ltd. have officially called off a planned $10 billion media merger in India after two years of drama and delay, abandoning their effort to create an entertainment giant in Asia’s biggest streaming market.

www.bloomberg.com

 

[SVK]

Zee group had mentioned that they will go to court if Sony backs out of deal. So courtroom drama next?

 

[SVK]

AMG Media Networks keen on a deal with Zee, suggests marquee investor - Exchange4media

As per the buzz in the industry, the new investor in Zee will make an open offer for equity beyond 26 per cent

www.exchange4media.com

Sony out, Adani in


Source

 

[Navjot Singh]

Sony India Moves Against Zee in Singapore Arbitration Case, Chief N.P. Singh Looks to ‘Strengthen Market Presence’

Sony has initiated arbitration proceedings in Singapore against Indian TV giant Zee, alleging breaches of their failed merger agreement.

variety.com

 

[akshay71]

Mere Adani aap jara Vi pe bhi thodi kripa kar de to achha hoga mere stock price ka.

TBH, I think Adani group might ultimately buy out Vi as we can see they are already into Cinema. They are following Jio's footsteps to create support ecosystem. But they are doing it discreetly so as to not alarm their future competitors like Jio and Airtel.