(Image source from: Economictimes.indiatimes.com)Zee-Sony merger likely to be called off:- The highly anticipated merger between Zee Entertainment and Sony's India arm may not proceed as planned, as Sony is reportedly considering issuing a termination notice before January 20. The merger, which was valued at $10 billion, aimed to create the largest media entity in India. However, Bloomberg reported that Sony no longer felt comfortable with Punit Goenka leading the merged entity due to an ongoing regulatory probe. Zee had requested an extension of the merger deadline beyond December 21 from Sony's Indian arm, Culver Max Entertainment, in order to ensure the scheme's effectiveness. Under the proposed merger, Culver Max Entertainment (previously known as Sony Pictures Networks India) and Zee Entertainment were to combine their linear networks, digital assets, production operations, and program libraries.

Source: Economic Times January 10, 2024 10:59 UTC