Dream Wired
No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
No Result
View All Result
Dream Wired
No Result
View All Result
Home DramaAlert

Sony Calls Off $10 Billion Zee Merger In India – Deadline

rmtsa by rmtsa
January 22, 2024
in DramaAlert
0
Sony Calls Off  Billion Zee Merger In India – Deadline
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

Matthew Perry death: 2nd doctor to plead guilty to supplying ketamine – National

‘The Never Ever Mets’ Reunion Trailer [Exclusive]

BIG3 Opener Turns Wild • Hollywood Unlocked

Sony has terminated plans for a long-in-the-works merger of its television and streaming operations in India with local giant Zee Entertainment Enterprises, saying that closing conditions were not satisfied.

The $10 billion tie up has been in the offing for more than two years, but had hit several regulatory roadblocks before the National Company Law Tribunal cleared the deal in August. Just last week, Zee said it was continuing to work towards a successful closure of the deal with Culver Max Entertainment, formerly known as Sony Pictures Networks India.

However, today, Sony sent notification that it was terminating the merger agreement. In a statement, the company said, “Although we engaged in good faith discussions to extend the end date under the merger cooperation agreement, we were unable to agree upon an extension by the January 21 deadline.  After more than two years of negotiations, we are extremely disappointed that closing conditions to the merger were not satisfied by the end date. We remain committed to growing our presence in this vibrant and fast-growing market and delivering world-class entertainment to Indian audiences.”

The merger would have created an Indian media giant, bringing together the two companies’ linear TV networks, digital assets, production operations and program libraries. Sony was to provide a large cash injection and control a majority share stake of close to 51%.

Earlier this month, Bloomberg had reported that Sony was looking to call off the merger as the two sides were unable to decide on leadership of the combined group.

According to Reuters, the deal was perceived as crucial for the survival of the companies in a very competitive market and amid the impending merger between Disney’s Indian businesses and the media assets of Mukesh Ambani’s Reliance Industries.

Sony also noted it does not anticipate the termination of the merger to have any material impact on its consolidated financial results as it has not previously included the deal in its forecasts for the fiscal year.



Source link

Tags: BillionCallsDeadlineIndiaMergerSonyZee
Share30Tweet19
rmtsa

rmtsa

Recommended For You

Matthew Perry death: 2nd doctor to plead guilty to supplying ketamine – National

by rmtsa
June 17, 2025
0
Matthew Perry death: 2nd doctor to plead guilty to supplying ketamine – National

A doctor charged with giving Matthew Perry ketamine in the months leading up to the “Friends” star’s overdose death has agreed to plead guilty, authorities said Monday. Dr....

Read more

‘The Never Ever Mets’ Reunion Trailer [Exclusive]

by rmtsa
June 17, 2025
0
‘The Never Ever Mets’ Reunion Trailer [Exclusive]

OWN’s The Never Ever Mets reunion airs this FRIDAY, and BOSSIP has your first look at the trailer! Source: The Never Ever Mets A press release announces that...

Read more

BIG3 Opener Turns Wild • Hollywood Unlocked

by rmtsa
June 16, 2025
0
BIG3 Opener Turns Wild • Hollywood Unlocked

BIG3 Opener Turns Wild As Dwight Howard And Lance Stephenson Throw Hands Dwight Howard and Lance Stephenson’s BIG3 debut was supposed to be a celebration. Instead, it turned...

Read more

That’s Amore With Josh O’Connor & Girlfriend Alison Oliver in Portofino, Italy

by rmtsa
June 16, 2025
0
That’s Amore With Josh O’Connor & Girlfriend Alison Oliver in Portofino, Italy

Josh O'Connor British Bae All Over His Bikini Babe In Italy!!! Published June 16, 2025 11:51 AM PDT Josh O’Connor’s been grinding since "The Crown" -- but now...

Read more

Was Elon Right? Lawsuit Questions Accuracy Of 2024 Election

by rmtsa
June 16, 2025
0
Was Elon Right? Lawsuit Questions Accuracy Of 2024 Election

by Sharelle B. McNair June 16, 2025 Judge Rachel Tanguay ruled the allegations were serious enough for the litigation to move forward. Almost six months into President...

Read more
Next Post
Riley Keough Wants Daisy Jones and The Six to Open for Stevie Nicks

Riley Keough Wants Daisy Jones and The Six to Open for Stevie Nicks

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized

CATEGORIES

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized
No Result
View All Result

Recent News

  • June 13-15 Box Office Recap – ‘How to Train Your Dragon’ flies to a fantastic $198M worldwide debut, the best in the franchise. ‘Materialists’ opens with $11.3M, the third best debut in A24’s history. However, Neon’s ‘The Life of Chuck’ disappoints with just $2.3M.
  • Matthew Perry death: 2nd doctor to plead guilty to supplying ketamine – National
  • 5 Must-Watch Netflix Miniseries You Should Binge in June 2025

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In