 "Zee, 9XM, 9X Media, Punit Goenka")
Entertainment network Zee Entertainment Enterprises Limited (ZEEL) has called off its deal with music broadcaster 9X Media citing non-completion of certain material conditions precedent.
In October last year, Punit Goenka-led ZEEL had entered into a definitive agreement to acquire 9X Media and INX Music from New Silk Route and other shareholders for an all cash consideration of Rs 1.6 billion.
“This is further to our communication dated October 6, 2017, providing relevant details of the proposed acquisition of 100% equity stake in 2 Media entities viz. 9X Media Private Limited and INX Music Private Limited (9X entities),” ZEEL said in
