Zee sony merger: [Mumbai – December 22

[Mumbai – December 22, 2021] Sony Pictures Networks India Private Limited (SPNI) and Zee Entertainment Enterprises Ltd. (ZEEL) today announced that they have signed definitive agreements to merge ZEEL with and into SPNI and combine their linear networks, digital assets, production operations and program libraries. The agreements follow the conclusion of an exclusive negotiation period during which ZEEL and SPNI conducted mutual due diligence. After closing, the new combined company will be ... Honourable NCLT approved the scheme of merger of Zee and Sony after what could only be a roller coaster ride for both the management. Zee and Sony amicably settle disputes over their failed merger , to withdraw claims Both ZEE and Sony had claimed a termination fee of USD 90 million (around Rs 748.7 crore) from each other for not complying to the Merger Cooperation agreement signed in December 2021. Sony Group Corp on Monday called off its merger with Zee Entertainment Enterprises Ltd (ZEEL), ending the $10 billion deal after around two years of negotiations. As per an official release by Sony , the definitive agreements provided that if the “ merger did not close by the date twenty-four months after their signature date (the 'End Date'), the parties would be required to discuss in good faith an extension of the end date required to make the merger effective by a reasonable period of ...