Zee to sue Sony for canceling merger deal

06:10:00 PM, Monday 22nd of January 2024 | in business

Zee Entertainment is gearing up for a legal battle with Japan's Sony Group after Sony called off a merger between its Indian subsidiary, Culver Max Entertainment, and Zee. The deal, announced in 2021, would have formed India's biggest broadcasting company. Sony stated on Monday, "SPNI, a wholly-owned subsidiary of Sony Group Corporation, today issued a notice terminating the definitive agreements entered into by SPNI and Zee Entertainment Enterprises Ltd (ZEEL) relating to the merger of ZEEL with and into SPNI."