Subhash Chandra, chairman emeritus of Zee Entertainment Enterprises, has alleged that Sony intentionally prevented a merger despite the Zee promoters offer — during extended negotiations — to have Punit Goenka step aside from the chief executives post.
Punit Goenka and the family collectively decided he should step aside, and the merger should proceed because it was beneficial for Zee. This decision was communicated to Sony. It wasn t acceptable to Sony. I believe this was Sony s strategy all along: To engage with Zee and eventually withdraw, portraying Zee as vulnerable. I intend to convey this perspective to the Zee board as well, says Subhash Chandra, chairman emeritus of Zee Entertainment Enterprises.
Punit Goenka, CEO & MD of Zee Entertainment Enterprises, has said that the ZEE-Sony merger will go through whether or not he is the CEO of the merged company, as it benefits 96% of stakeholders.
The merger between ZEE and Sony will go ahead regardless of CEO Punit Goenka s position, as it will benefit 96% of the company s shareholders. Sony remains committed to the December 2023 contractual deadline, though a September merger had been previously proposed. The companies are currently at an advanced stage of integration, but regulations and non-compete agreements remain obstacles.