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The deal, announced two years ago by Zee and Sony to merge their TV channels, streaming platforms and film assets, has been delayed after Sebi in August barred Zee CEO Punit Goenka, from the directorships of any listed company
The deal to create a $10-billion media and entertainment powerhouse was first announced two years ago but has been delayed due to various reasons
ZEEL had approached Culver Max and Bangla Entertainment Pvt Ltd (BEPL) for an extension in the deadline to complete the proposed merger, which will create India's biggest media conglomerate, say regulatory updates
Zee Entertainment Enterprises Ltd on Wednesday said Culver Max Entertainment, formerly known as Sony Pictures Networks India, has agreed to discuss extending the date required to make their merger scheme effective, a day ahead of the deadline. A day after Sony Pictures Networks India (SPNI) stated that it has not yet agreed to a deadline extension requested by Zee Entertainment Enterprises Ltd (ZEEL) for their proposed $10-billion merger, the Subhash Chandra family-promoted media firm said it has received a communication from Sony group for discussing an extension of the deal which was announc...
In a statement, SPNI said that ZEE's notice to the BSE and the NSE on December 17, seeking an extension of the merger deadline is "an acknowledgment that they will not be able to meet the December 21, 2023 deadline to close the SPNI/ZEE merger."