Sony-Zee Merger Termination: Concerns for Unilever, P&G; likely cheer for Ambani
Sony terminates Zee deal: Sony's decision to abandon a $10 billion Indian media merger will leave large advertisers like Unilever and Procter & Gamble with limited options. They may have to turn to a potential rival to reach India's 1.4 billion population. Sony's local unit terminated the deal with Zee Entertainment after disagreement over who would lead the merged entity. The termination was likely influenced by an ongoing inquiry into funds misappropriation by Zee's founder and CEO, Punit Goenka. This failure leaves advertisers without an alternative to Mukesh Ambani, who is consolidatin...
Source: indiatimes.com