Sony terminates merger agreement with ZEE Entertainment
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“SPNI, a wholly owned subsidiary of Sony Group Corporation, today issued a notice terminating the definitive agreements entered into by SPNI and Zee Entertainment Enterprises Limited (ZEEL) relating to the merger of ZEEL into SPNI,” Sony Group Corporation said in a statement. Which was announced on 22 December 2021.
New Delhi. Culver Max Entertainment has terminated the merger agreement with Zee Entertainment. This agreement was expected to create a US$10 billion media enterprise in the country. Culver Max Entertainment was formerly known as Sony Pictures Networks India (SPNI). “SPNI, a wholly owned subsidiary of Sony Group Corporation, today issued a notice terminating the definitive agreements entered into by SPNI and Zee Entertainment Enterprises Limited (ZEEL) relating to the merger of ZEEL into SPNI,” Sony Group Corporation said in a statement. Which was announced on 22 December 2021. ”Under the agreement, the merger was to be completed before December 21, 2023. This included obtaining regulatory and other approvals along with an additional month to complete the transaction.
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