India’s National Company Law Tribunal has given its approval to the merger between Zee Entertainment Enterprises (ZEEL) and Sony’s India assets. The Tribunal accepted concessions from Zee and Sony Pictures Networks/Culver Max Entertainment which would reduce some of the regulatory concerns. The Tribunal issued its order approving the merger on August 10th. The merger between […]

The merger between Zee Entertainment Enterprises (ZEEL) and Sony Pictures Network India is back on track. Local reports say it should complete by around March 2024. However, the merger has beset by numerous challenges – not least allegations of financial misconduct and extremely close inspections by regulators and still running are investigations by the Securities […]

India’s National Company Law Tribunal (NCLT) is reserving its order on the controversial merger plan between Sony’s India division and Zee Enterprises. Sony’s local business is Culver Max Entertainment and has been planning a merger with Subhash Chandra-backed Zee Entertainment Enterprises (ZEEL). NCLT is pausing so that the two parties can make further submissions to […]

India’s troubled broadcast merger between Sony’s India division and Zee Entertainment remains in a precarious position. A planned hearing by India’s Securities Appellate Tribunal (SAT) which should have happened on June 26th was scrubbed. The hearing would have given an opportunity for Subhash Chandra, chairman of Essel Group, and Punit Goenka (pictured), MD and CEO […]

The troubled merger between Sony India and Zee Enterprises “will go through” according to Zee MD Punit Goenka. He added the merger would happen “whether or not” he was in post as MD of the merged company. Goenka, and his father Subhash Chandra, are the subject of legal actions from India’s Securities and Exchange Board […]

Sony’s Indian subsidiary remains firmly committed to the long-awaited merger with Zee Entertainment notwithstanding the challenges of regulators and court interventions on two directors of Zee. Sony Pictures Entertainment, in its first official statement on the problems with Zee, said it takes seriously the ban on the two directors (Subhash Chandra and Punit Goenka) and […]

Local reports out of India say that Sony’s board of directors are increasingly unhappy with the planned merger between their Indian assets and those of Zee Entertainment. One problem came from The Securities & Exchange Board of India (SEBI) which has ruled that ZEEL’s Subhash Chandra and Punit Goenka cannot have seats on the merged […]

The long-awaited merger between Zee Entertainment Enterprises Ltd (ZEEL) and the former Sony Pictures Network (now renamed Culver Max Entertainment) is again suffering major challenges. The latest problem came from The Securities & Exchange Board of India (SEBI) which has ruled that ZEEL’s Subhash Chandra and Punit Goenka cannot have seats on the merged company’s […]

The long-awaited merger between Zee Entertainment Enterprises Ltd (ZEEL) and Sony Pictures Networks India faces another hurdle before the agreement can be wrapped. India’s SEBI (Securities & Exchange Board of India) regulator has asked for more information and has requested the Bombay Stock Exchange and New York exchange as well as the National Company Law […]

The on/off merger talks between Zee Entertainment Enterprises (ZEEL) and Sony Group have resumed. ZEEL is in advanced talks with its creditors in order to settle debts and remove one remaining problem with its sale to Sony Pictures Networks India (SPNI) a wholly-owned subsidiary of Sony Corp. ZEEL owes $18.1 million to ISBI Bank, and […]