sony-zee merger – The News Desk

Incidentally, all three channels belong to the Zee network By P R Sanjai and Debjit Chakraborty Sony Group Corp. and Zee Entertainment Enterprises Ltd. have a one-month grace period starting Thursday to close the merger of their India operations that will create a $10 billion media behemoth, according to people familiar with the matter. A 30-day period after the Dec. 21 deadline was included in the merger pact signed in 2021 if either party sought more time, said people familiar with the discussions who didn’t want to be identified as the information is private. Zee is hopeful of tying up loose ends before the grace period is over, they said. Mumbai-based Zee, however, requested for an extension in a Dec. 17 filing, without specifying how much time it was seeking. ...

IDBI Bank and Axis Finance had moved NCLAT against the merger The National Company Law Appellate Tribunal (NCLAT) on December 15 said it will not grant a stay on the merger of Culver Max Entertainment, formerly Sony Pictures Networks India and Zee Entertainment Enterprises Ltd (ZEEL). According to a report by Moneycontrol, the case will now be heard on January 8. IDBI Bank and Axis Finance had challenged the August 10, 2023, order of the Mumbai bench of the National Company Law Tribunal (NCLT), which approved the merger, paving the way for the creation of the country's largest media entity. While approving the merger, the NCLT, in its order, dismissed some applications moved by financial institutions opposing the move, including those of IDBI Trusteeship, IDBI Bank, Ax...

Tag: sony-zee merger

Sony, Zee have one-month grace period to complete $10 billion merger

NCLAT refuses to stay Zee-Sony merger, case now to be heard in January