Page 8 - Zee Entertainment

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 vows growing India media presence despite aborted merger in letter

"Let's turn our attention back to the heart of our work - our current projects, our fantastic team, and the audiences who count on us," Singh said,

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

Zee plummets 30% as Sony calls off merger; CLSA downgrades stock to 'sell'

With Zee-Sony merger being terminated, we believe Zee's price-to-earnings (PE) will slump back to 12x levels, seen prior to the Sony merger announcement, CLSA said

Stocks to Watch today: Zee, Cipla, MRPL, Axis Bank, Medi Assist, JSW Group

Stocks to watch on Tuesday, January 23, 2024: Zee Entertainment in focus as Sony India calls-off merger; Axis Bank, Havells, JSW Energy, L&T Housing Finance, RECL and Tata Elxsi to Q3 results today.

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

BSE 200 scorecard: From IGL to Zee, reading the tea leaves from FPI move

Krishna Kant and Ram Prasad Sahu track the investments made by foreign portfolio investors in BSE 200 companies - a move that is seen as pivotal to the future of a stock on bourses

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 notifies Zee Entertainment about its plans to call off the merger

Sony cited conditions of the merger agreement not being met as the reason for the termination, according to the letter seen by Bloomberg.

Zee Entertainment shares fall 5% on reports of Sony merger deal collapse

Sony Group of Japan had said it is continuing talks until 20 January on the deal to merge its Indian subsidiary with Zee Entertainment Enterprises that would create a $10 billion entity

Working towards successful closure of merger with Sony: Zee Entertainment

Zee Entertainment Enterprises Ltd (ZEEL) on Friday said it is continuing to work towards a successful closure of its USD 10 billion merger with Culver Max Entertainment, formerly known as Sony Pictures Networks India, amid reports that the Japanese entity's board meeting to take a call on the fate of the protracted deal. In a regulatory filing, ZEEL said it was "not aware of, and cannot comment on" any board meeting held or proposed to be held by Culver Max Entertainment, given that these are internal matters of Sony. "We wish to reiterate that the Company is committed to the merger with Sony and is continuing to work towards a successful closure of the proposed merger and is engaging in good faith negotiations with Sony with a view to discuss the extension of the date required to make the Scheme effective, by a reasonable period of time," it said. The fate of the USD 10 billion merger between ZEEL and Culver Max Entertainment is hanging by a slim thread with the two parties yet to

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

SC refers Zee-Aditya Birla dispute to arbitration, upholds Delhi HC order

Chief Justice of India DY Chandrachud also dropped Siti Network from the lineup of parties in the arbitration proceedings as it has already gone into insolvency

Sony Group continues talks on merger with Zee amid reports on disputes

Sony Group and Zee Entertainment have faced disputes over the choice of the merged unit's CEO. However, terms of the deal are expected to be clarified by January 21

Zee Entertainment shares plunge 8%, market valuation falls by Rs 2,036 cr

Shares of Zee Entertainment Enterprises tanked nearly 8 per cent on Tuesday amid uncertainty over the fate of the USD 10 billion merger between the company and Culver Max Entertainment, formerly Sony Pictures Networks India. The stock tumbled 12.66 per cent to Rs 242.30 during the day on the BSE. It ended at Rs 256.25 apiece, lower by 7.64 per cent. On the NSE, the stock plunged 13.60 per cent to Rs 240.30 during the day. Shares of the company ended at Rs 255.95 each, down 7.98 per cent. The company's market valuation fell by Rs 2,036.3 crore to Rs 24,613.31 crore. In volume terms, 105.74 lakh shares of the company were traded on the BSE and over 15.72 crore shares on the NSE during the day. The fate of the USD 10 billion-merger between Zee Entertainment Enterprises and Culver Max Entertainment is hanging by a thread, with the two parties unable to finalise an agreement as the end of the one-month grace period looms. The two parties are yet to come to an agreement over Zee ...