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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.

Termination of the $10-bn merger deal could lead to them running separate entities or even a Sony-Disney deal

The Japanese company issued a termination notice after the two sides could not reach an agreement within a deadline set in December 2021.

Zee Sony merger: Sony Group Corp is unlikely to extend merger negotiations with Zee Entertainment Enterprises Ltd. The termination notice of the proposed $10 billion merger between Sony and Zee is said to have been sent.

After Sony canceled a $10 billion mega-merger with its India unit and Zee Entertainment, global broking firm CLSA on Monday downgraded the stock to sell rating and warned investors that a valuation de-rating could be in the offing.