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Sony said certain ‘closing conditions’ to the merger were not satisfied despite ‘good faith discussions’ with Zee, and the companies had been unable to agree upon an extension by their Jan. 21 deadline
Dr Subhash Chandra, Chairman of the Essel Group and former Rajya Sabha MP, launched the Hyper Local App PINEWZ.
(Bloomberg) -- Sony Group Corp. said it has officially notified Zee Entertainment Enterprises Ltd. of plans to call off the merger between its India unit and the media network, ending a two-year acquisition saga and leaving Zee vulnerable to competition as rivals bulk up.Most Read from BloombergFlorida Governor DeSantis Drops Out of 2024 Race, Endorses TrumpHedge Funds Rake in Huge Profits Betting on Catastrophe RiskGloom Over China Assets Is Spreading Beyond Battered StocksTrump Retires ‘DeSanc
Termination of the $10-bn merger deal could lead to them running separate entities or even a Sony-Disney deal
Sony Group Corp. has officially notified Zee Entertainment Enterprises Ltd. it plans to call off the merger between its India unit and the media network, ending a two-year acquisition saga and leaving Zee vulnerable to competition as rivals bulk up.