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Subhash Chandra, chairman emeritus of Zee Entertainment Enterprises, has alleged that Sony intentionally prevented a merger despite the Zee promoters offer — during extended negotiations — to have Punit Goenka step aside from the chief executives post.
Punit Goenka and the family collectively decided he should step aside, and the merger should proceed because it was beneficial for Zee. This decision was communicated to Sony. It wasn't acceptable to Sony. I believe this was Sony's strategy all along: To engage with Zee and eventually withdraw, portraying Zee as vulnerable. I intend to convey this perspective to the Zee board as well, says Subhash Chandra, chairman emeritus of Zee Entertainment Enterprises.
He has announced Zee's intention to pursue legal action against the Japanese company for damages.