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Sony Walks Away From $10B Merger With Zee Entertainment In India
Sony has terminated plans for a long-in-the-works merger of its television and streaming operations in India with local giant Zee Entertainment Enterprises, saying that closing conditions were not …
Sony has terminated plans for a long-in-the-works merger of its television and streaming operations in India with local giant Zee Entertainment Enterprises, saying that closing conditions were not satisfied. In a statement, the company said, “Although we engaged in good faith discussions to extend the end date under the merger cooperation agreement, we were unable to agree upon an extension by the January 21 deadline. Sony also noted it does not anticipate the termination of the merger to have any material impact on its consolidated financial results as it has not previously included the deal in its forecasts for the fiscal year.
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