Breaking Sony officially announces termination of Zee merger

[Lurie]

I hope zee gets further humiliated in case if they plan to sue Sony.

Indian media conglomerate Zee Entertainment said it will take legal action against Japan-based Sony Group following the termination of merger plans which would've created India's largest broadcasting company.

Zee to take legal action against Sony for scrapping merger deal

Sony has announced the termination of its 2021 merger agreement with Zee and is seeking $90 million in termination fees. Zee, in response, refuted the claims made by Sony and emphasized its commitment to protecting stakeholders' long-term interests. Zee is evaluating options and plans to contest...

m.economictimes.com

 

[StoriesWithPK]

I hope zee gets further humiliated in case if they plan to sue Sony.

Agree. Sony isn't stupid to terminate it knowing they would've to pay $100 million. Japan has strict financial regulations.

 

[Aksgr]

Agree. Sony isn't stupid to terminate it knowing they would've to pay $100 million. Japan has strict financial regulations.

620 crores is not simple amount,
As per my understanding its written that the termination within !8 months of deal announced would cost 100M$, but also says parties must agree for 3 times extending the deadline. It would be the best case study to see how this will move forward. Also its sony who can sue them upon not disclosing those details of "fraud" during merger.

 

[StoriesWithPK]

620 crores is not simple amount,
As per my understanding its written that the termination within !8 months of deal announced would cost 100M$, but also says parties must agree for 3 times extending the deadline. It would be the best case study to see how this will move forward. Also its sony who can sue them upon not disclosing those details of "fraud" during merger.

Yes. $100 million may look minuscule when Sony takes the overall revenue into account but in terms of their Indian subsidiary alone, it is indeed a huge amount. So they would've already rectified it with their financial and legal experts.

 

[vicky 1213]

Zee + adani

 

[Aksgr]

Zee + adani

that would be disaster , just because adani has money wont justify his buy. Adani is interested in news channels not entertainment

 

[dinee]

Is it possible for sony and sun to merge.?

 

[Aksgr]

Is it possible for sony and sun to merge.?

No not even in dreams, sun is a political power house for DMK they wont come near any. And Sony will look for better acquisition than merger.

 

[peter9]

It's a total loss for Zee only.

 

[Ajay.]

Sony Demands Termination Fee Of USD 90 Mn From Zee Entertainment Post Merger Failure

Zee Sony merger news today: Culver Max Entertainment Pvt Ltd, formerly Sony Pictures Networks India, is seeking $90 million in termination fees from ZEE Entertainment Enterprises Ltd., Companies News, Times Now

www.timesnownews.com