Page 10 - Sony

Zee Entertainment, Sony Pictures square off in SIAC, starting today

NCLT grants 3 weeks to Sony to file reply

Sony scrapped $10 bn merger as Zee failed to meet financial terms: Report

India's Zee denied the allegations in a letter to Sony, also reviewed by Reuters, and accused the Japanese company of "bad faith" in calling off the merger

Promoter family to increase stake in Zee to 26% eventually: Subhash Chandra

Chandra also said that as a promoter, he was "seriously considering" filing a criminal case against Sony

TMS Ep616: Zee-Sony merger, cookieless market, interim Budget, stress test

Has Zee run out of options after merger collapse? Are Indian businesses ready for a cookieless market? What do investors expect from interim Budget? What is stress testing in finance? Answers here

Zee Entertainment mulls filing counterclaims against Sony India in SIAC

Legal experts say Zee took several steps to merge the companies which resulted in litigation costs

Disney Star mulls legal action against ZEEL for backing out from deal

Disney Star is mulling legal actions against Zee Entertainment for backing out from a USD 1.4 billion sub-licensing agreement for TV broadcast of international cricket matches in India, according to industry sources. This could brew another legal trouble for Zee Entertainment Enterprises Ltd (ZEEL), which is already facing an arbitration plea by Sony Group at the Singapore International Arbitration Centre, claiming USD 90 million for breach of conditions of their merger agreement. Disney Star, an Indian subsidiary of media conglomerate The Walt Disney Company, is working on its strategy over the development, said industry sources. If the rescinded agreement contained an arbitration clause, then Disney Star would have to resort to arbitration proceedings for the resolution of the dispute and if the agreement is short of the arbitration clause, then Disney could initiate legal proceedings to sue Zee for damages. ZEEL, which has already missed the first instalment of around USD 200 ..

Zee moves NCLT, SAIC against Sony Pictures post collapse of merger deal

Meanwhile, Sony India is going full steam ahead with its plans without Zee and said it is looking for both organic and inorganic growth opportunities in India

Before Sony merger collapse, Chandra blamed Sebi for trying to scuttle deal

Days before Sony Group pulled the plug on the USD 10 billion deal, Zee group founder Subhash Chandra had written to Finance Minister Nirmala Sitharaman, blaming Sebi for trying to "scuttle" the merger of its flagship media firm Zee Entertainment Enterprise with the Japanese firm and subsequent investment in the merged entity. Alleging market regulator Sebi is "acting with a predetermined mind", the Zee group patriarch requested the finance minister to take the necessary steps "to safeguard the interest of the minority shareholders of ZEEL". Chandra in his letter dated January 16, seen by PTI, said ZEEL and all other people have been cooperating in the investigation related to the alleged fund diversion by promoters and expressed concern over a new notice issued by the market regulator to former directors of ZEEL. "My concern is the timing of this new notice, and the urgency of the same since it matches with the merger completion timeline of ZEE and Culver Max," he said. The notice

Zee asks Sony Group to withdraw termination of $10 billion merger plan

The company has also approached the National Company Law Tribunal seeking directions to implement the merger, Zee added

Sony moves Singapore court against Zee for breaching merger pact: Report

Zee is likely to counter Sony's claims in the Singapore International Arbitration Centre, including the demand for a $90 million termination fee

Zee nosedives 30% in worst single-day fall after Sony scraps deal

After the deal with Sony was terminated, nearly half a dozen brokerages downgraded Zee's stock while lowering the earnings multiple assigned to the cash-strapped company

Sony puts large advertisers in tough spot as it terminates merger deal

What probably sank the deal was the insistence by Punit Goenka, Zee's chief executive officer, that he should lead the post-merger entity

Sony scraps $10 bn Zee merger deal; seeks $90 million in termination fees

Since the announcement of the merger, Zee shares have lost 30 per cent of their value

Analysts downgrade Zee Entertainment stock after Sony deal falls through

In a note, Elara has said the stock could slip to as low as Rs 130, while Nuvama Institutional Equities believes the stock could slip below Rs 200

Rs 2.1 trillion media landscape to hot up after Sony-Zee divorce

Zee's seemingly endless legal issues mean no foreign company is likely to show interest in the firm

ZEEL spent Rs 366 crore on compliances for its now-failed merger with Sony

Zee Entertainment Enterprises Ltd (ZEEL) spent Rs 366.59 crore on compliances till September 2023 for its now-failed merger with Sony, which called off the deal on Monday. The company had spent Rs 176.20 crore in the financial year that ended in March 2023. Besides, it spent Rs 190.39 crore in the first six months of the current fiscal, according to a regulatory filing by the Subhash Chandra family-promoted media entity. After signing an agreement, ZEEL was racing to receive a series of regulatory clearances from SEBI, CCI, ROC, etc. It also got a go-ahead from the National Company Law Tribunal after receiving approvals from shareholders and creditors and closed all formalities for the merger. However, Sony Group Corp on Monday called off the USD 10 billion merger of its India unit with Zee Entertainment, following a stalemate over who will lead the merged entity, besides not satisfying other conditions for the merger. It sent a termination notice to Zee on the deal, which was ...

Sony-Zee merger: ZEE promises legal action over termination notice

Culver Max and BEPL sent a termination notice with a $90 million fee to ZEEL after Sony cancelled the merger deal valued at $10 billion

Sony-Zee merger timeline: How leadership dispute ended the $10 bn deal

Sony Group Corp has called off its merger with Zee after nearly two years of negotiating the $10 billion deal, which was set to become India's fourth-largest media house

Sony Board to take call on $10 billion merger with Zee Entertainment today

Zee MD and CEO Punit Goenka has offered to step down from his chief executive role, ahead of the deadline for the merger deal on January 20

The merger drama in television

With India hardly being a hot destination for media investments, the twists and turns in the Sony-Zee merger deal is bad news for the industry