Zee-Sony merger: The much-awaited merger between Sony s India unit and Zee Entertainment hangs in the balance, facing a critical juncture next week. The companies must swiftly resolve leadership conflicts and finalise merger details; otherwise, the prospects of $10 billion media giant may vanish as a looming deadline approaches on Dec. 21.
The SAT found that continuing the interim order was harsh and unwarranted, especially given SEBI's "track record" of not completing investigations on time.
On Monday, the Securities Appellate Tribunal (SAT) revoked a prior regulatory prohibition on Punit Goenka, the managing director and CEO of Zee Entertainment Enterprises, from holding significant managerial roles in listed firms. This move potentially accelerates the intended merger between Zee and Culver Max Entertainment, the local subsidiary of Japan's Sony Group Corp. , Companies News, Times Now
This paves the way for Goenka to resume as managing director and CEO of Zee, and head one of the largest merged entities in the media and entertainment sector after the merger with Sony