Page 34 - Subhash Chandra News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Disney Star is mulling legal actions against Zee Entertainment for backing out from a $1.4 billion sub-licensing agreement for TV broadcast of international cricket matches in India, according to industry sources. This could brew another legal trouble for Zee Entertainment Enterprises Ltd (ZEEL), which is already facing an arbitration plea by Sony Group at the Singapore International Arbitration Centre, claiming $90 million for breach of conditions of their merger agreement. Disney Star, an Indian subsidiary of media conglomerate The Walt Disney Company, is working on its strategy over the dev...

(Bloomberg) -- In November, Sony Group Corp.’s lawyers got a nasty surprise during a routine call from the legal team of Zee Enterprises Entertainment Ltd.Most Read from BloombergUpbeat Musk Can’t Soothe Tesla Investors’ Fears About GrowthRussia Says Ukraine Downed Plane Carrying Prisoners for SwapBoeing Halted From Further Max Production Increases by FAAHow Yemen’s Houthi Attacks Are Hurting the Global Supply ChainNearly two years into tortuous merger negotiations to create a $10 billion Indian

As per the agreement, Sony had plans to invest USD 1.575 billion in the merged entity and have a majority stake of 52.93 per cent.

Sony Group Corp.'s lawyers were surprised when Zee Enterprises Entertainment Ltd. requested a 'hold harmless' clause for its CEO, Punit Goenka, during the merger negotiations to create a $10 billion Indian entertainment giant. Goenka was worried that Sony would start a witch hunt against him after the merger. The deal eventually fell through, highlighting the challenges faced by foreign companies in the Indian entertainment market. The collapse of the deal gives an advantage to the potential combination of Walt Disney Co. and Reliance Industries Ltd., creating India's largest entertainment com...

A Zee-Sony India merger would have created a media powerhouse in the world's most populous nation with 90-plus channels across sports, entertainment and news segments, which, India's antitrust body at one time said could have "un-paralleled bargaining power" when backed by Sony's global reach.