Zee Sony Notice

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 Enterprises Ltd (ZEEL) held a board meeting today to take note of the merger termination notice sent by Japan's Sony Group Corp.

Sony Group is planning to call off the merger pact of its India unit with Zee Entertainment Enterprises, said people familiar with the matter, capping two years of drama and delay in creating a $10 billion media giant.

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 Enterprises Ltd (ZEEL) held a board meeting today to take note of the merger termination notice sent by Japan's Sony Group Corp.

Sony Group is planning to call off the merger pact of its India unit with Zee Entertainment Enterprises, said people familiar with the matter, capping two years of drama and delay in creating a $10 billion media giant.