Zee Sony Merger

ZEE Entertainment Enterprises Ltd (ZEEL) and Sony Pictures Networks India on Tuesday said they have settled their six-month-long dispute related to the failed USD 10-billion merger and have agreed to withdraw all claims against each other.

India's antitrust body has reached an initial assessment that the $8.5 billion (roughly Rs. 71,199 crore) India merger of Reliance and Walt Disney media assets harms competition due to their power over cricket broadcast rights, four sources told Reuters on Tuesday.

Antitrust experts have warned that the Reliance-Disney merger, announced in February, could face intense scrutiny as it will create India's biggest entertainment player. The merged company will be majority owned by Asia's richest man Mukesh Ambani's Reliance.

Zee Entertainment Enterprises has sought a termination fee of USD 90 million (around Rs 748.7 crore) from the Sony Group for calling off the USD 10 billion merger deal in January this year.

ZEE Entertainment Enterprises Ltd on Tuesday said it has withdrawn its application, seeking implementation of the merger with Sony, filed before the National Company Law Tribunal Mumbai bench.

The market regulator has found a hole of more than $240 million in the accounts of Zee Entertainment Enterprises Ltd., dealing another blow to the embattled media firm less than a month after its merger with Sony Group Corp's local unit collapsed.

India's Zee Entertainment is making a final attempt to restart discussions with Japan's Sony Group to revive their $10 billion merger deal which was scrapped on Jan. 22, Indian business daily Economic Times reported on Tuesday, citing people aware of the matter.

Zee Entertainment is making a final attempt to restart discussions with Japan's Sony Group to revive their $10 billion (roughly Rs 83,098 crore) merger deal which was scrapped on Jan 22.

Billionaire Mukesh Ambani's Reliance is close to merging its India media business with Walt Disney with a 51 percent-54 percent stake, a deal that values the US giant's Indian operations at just $3.5 billion, said three sources with direct knowledge.

Sony and Zee disagreed over more than 20 compliance issues, including Indian firm's failure to dispose of some Russian assets and its $1.4 billion Disney cricket rights deal, before their merger was scrapped, according to internal emails.

Sony scrapped the $10 billion merger of its Indian arm with Zee Entertainment in part because Zee failed to meet some financial terms of the deal and come up with a plan to address them, according to a termination notice reviewed by Reuters.

Zee Entertainment said on Wednesday it has called on Sony Group to withdraw the Japanese company's termination of a $10 billion merger between its local unit and the Indian broadcaster.

Japan's Sony Group scrapped plans on Monday for a $10 billion (roughly Rs. 83,098 crore) merger of its Indian unit with Zee Entertainment, ending a deal that could have created one of the South Asian nation's biggest TV broadcasters.

Zee Entertainment Enterprises Ltd (ZEEL) boss Punit Goenka today posted an update about a cataclysmic development in his company while attending the Ram temple consecration ceremony in Uttar Pradesh's Ayodhya.

Sony has officially called off its merger with Zee Entertainment, pointing to unresolved conditions as the key reason.

ZEE Entertainment Enterprises Ltd (ZEEL) and Sony Pictures Networks India on Tuesday said they have settled their six-month-long dispute related to the failed USD 10-billion merger and have agreed to withdraw all claims against each other.

India's antitrust body has reached an initial assessment that the $8.5 billion (roughly Rs. 71,199 crore) India merger of Reliance and Walt Disney media assets harms competition due to their power over cricket broadcast rights, four sources told Reuters on Tuesday.

Antitrust experts have warned that the Reliance-Disney merger, announced in February, could face intense scrutiny as it will create India's biggest entertainment player. The merged company will be majority owned by Asia's richest man Mukesh Ambani's Reliance.

Zee Entertainment Enterprises has sought a termination fee of USD 90 million (around Rs 748.7 crore) from the Sony Group for calling off the USD 10 billion merger deal in January this year.

ZEE Entertainment Enterprises Ltd on Tuesday said it has withdrawn its application, seeking implementation of the merger with Sony, filed before the National Company Law Tribunal Mumbai bench.

The market regulator has found a hole of more than $240 million in the accounts of Zee Entertainment Enterprises Ltd., dealing another blow to the embattled media firm less than a month after its merger with Sony Group Corp's local unit collapsed.

India's Zee Entertainment is making a final attempt to restart discussions with Japan's Sony Group to revive their $10 billion merger deal which was scrapped on Jan. 22, Indian business daily Economic Times reported on Tuesday, citing people aware of the matter.

Zee Entertainment is making a final attempt to restart discussions with Japan's Sony Group to revive their $10 billion (roughly Rs 83,098 crore) merger deal which was scrapped on Jan 22.

Billionaire Mukesh Ambani's Reliance is close to merging its India media business with Walt Disney with a 51 percent-54 percent stake, a deal that values the US giant's Indian operations at just $3.5 billion, said three sources with direct knowledge.

Sony and Zee disagreed over more than 20 compliance issues, including Indian firm's failure to dispose of some Russian assets and its $1.4 billion Disney cricket rights deal, before their merger was scrapped, according to internal emails.

Sony scrapped the $10 billion merger of its Indian arm with Zee Entertainment in part because Zee failed to meet some financial terms of the deal and come up with a plan to address them, according to a termination notice reviewed by Reuters.

Zee Entertainment said on Wednesday it has called on Sony Group to withdraw the Japanese company's termination of a $10 billion merger between its local unit and the Indian broadcaster.

Japan's Sony Group scrapped plans on Monday for a $10 billion (roughly Rs. 83,098 crore) merger of its Indian unit with Zee Entertainment, ending a deal that could have created one of the South Asian nation's biggest TV broadcasters.

Zee Entertainment Enterprises Ltd (ZEEL) boss Punit Goenka today posted an update about a cataclysmic development in his company while attending the Ram temple consecration ceremony in Uttar Pradesh's Ayodhya.

Sony has officially called off its merger with Zee Entertainment, pointing to unresolved conditions as the key reason.