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Sony Group Corp has sent a termination letter to Zee Entertainment Enterprises Ltd, ending the proposed merger between their India unit and the media network.

Zee-Sony merger: Sony on Monday confirmed sending termination notice to Zee Entertainment, ending proposed $10 billion merger in India. The merger aimed to create the largest media giant in India. Sony and Zee had signed definitive agreements in December 2021, but the merger remained incomplete due to regulatory investigation and legal suits. Sony served the termination notice after the End Date passed and the parties failed to agree on an extension. The termination notice was issued on January 22, 2024.

Sony has called off the merger between its India unit and Zee Entertainment as the Japanese company served a termination notice to the Indian conglomerate ending a two-year acquisition deliberation of the proposed $10 billion mega merger. Find out more about the reasons behind the termination and the impact on the entertainment industry.

As part of its ongoing investigation against key management personnel of Zee Entertainment Enterprises Ltd (ZEEL), including CEO and MD Punit Goenka, SEBI has questioned some former directors regarding their steps to protect minority shareholder rights amid the failed Sony merger.

Punit Goenka expresses disappointment over failed deal but sees it as a sign from the Lord. He remains positive and committed to strengthening the M&E Company.