Why Sony-Zee merger may not happen anytime soon?
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Sony Pictures Networks India (SPNI) announced on Tuesday that it has not yet agreed to extend the merger deadline with Zee Entertainment Enterprises. The merger, set to create a $10 billion media and entertainment giant, has a deadline of December 21. "SPNI is required to start those conversations but has not yet agreed to a deadline extension," the company stated. Shares of Zee Entertainment were down 4.7% on NSE.