Sony and Zee Merger : Sony Has Yet to Agree to an Extension of Its Deadline to Create a $10 Billion Media Giant

Sony is waiting to hear the Indian media company’s ideas and how they intend to finalise the last few crucial closing requirements before agreeing to a deadline extension for their merger with Zee.

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Sony and Zee Merger : Sony Has Yet to Agree to an Extension of Its Deadline to Create a $10 Billion Media Giant

Sony is waiting to hear the Indian media company’s ideas and how they intend to finalise the last few crucial closing requirements before agreeing to a deadline extension for their merger with Zee.

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Although SPNI has not yet consented to a deadline extension, it is necessary to initiate those discussions.

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Zee Entertainment’s shares were down 3.8% at Rs 269.85 a share on the BSE Sensex at 10:08 p.m.

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In December 2021, Sony and Zee agreed to merge. In eight or ten months, the deal was supposed to close

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The combined revenue of ZEEL and Sony was about Rs 15,000 crore, according to the FY23 financials.

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With the planned Reliance-Disney joint venture, the Sony-Zee goliath will face off against it directly in an almost duopolistic market.

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