Sony and Zee Entertainment Enterprises officially called off the planned media merger after two years of drama and delay, abandoning their effort to create an entertainment giant in Asia’s biggest streaming market.
“ZEEs notice to the Bombay Stock Exchange and the National Stock Exchange of India dated December 17 is an acknowledgement that they will not be able to meet the December 21, 2023 deadline to close the SPNI/ZEE merger," the SPNI statement reads.