The Sony-Zee mega-merger deal officially collapsed after the Japanese media giant sent a termination letter to Zee Entertainment Enterprises Ltd. The Sony Group Corp. and Zee Entertainment Enterprises Ltd. merger was among the biggest and most awaited deals that were taking place in India so that both companies could take on giants like Jio and other OTT platforms. The Zee-Sony merger deal would have enabled both companies to reach a larger audience, especially in India, however, the deal and negotiations went into trash. Now, the question arises what is Sony-Zee merger cancellation or Sony-Zee merger termination reason? Below is everything we know about the Sony-Zee merger cancellation-
Sony-Zee merger cancellation explained
As per reports, it was Japnese media giant, Sony Group Corp that decided to walk away from a $10 billion Indian media merger deal. To reach the country’s 1.4 billion population Sony and Zee had decided to merge the company to take on rivals with deep pockets. Sony India unit reportedly sent a termination letter to Zee Entertainment Enterprises Ltd. As per a report, Sony was compelled to tank the deal because of Punit Goenka, Zee’s chief executive officer. As per reports, Punit was adamant that he should lead the post-merger entity.
