Zee shares were locked at 10% lower circuit in the opening trade on Wednesday on report that Sebi has found irregularities worth ₹2,000 crore in the accounts of the company. In a setback for Zee Entertainment Enterprises Ltd (ZEEL), capital market regulator Securities and Exchange Board of India (SEBI) has unearthed a financial discrepancy exceeding … Read more
Story continues below Advertisement Zee Entertainment Enterprises Ltd on Tuesday clarified that the talk of renewed talks with Sony to revive the scrapped merger deal is incorrect and that the company is “not involved in any negotiations”. Earlier on Tuesday, The Economic Times reported, quoting sources, that ZEEL had re-engaged with Sony Corp to revive the $10-billion merger … Read more
Sony’s Indian unit said it was ‘disappointed’ after a Singapore arbitration centre rejected an emergency petition by the Japanese company for a stay of proceedings in enforcement of Zee-Sony merger deal. Sony scrapped the merger on January 22, ending a deal that could have created one of India’s biggest TV broadcasters, claiming breaches of contract … Read more
Global brokerage firm CLSA has revised its recommendation on Zee Entertainment, changing it from a previous ‘buy’ rating to a ‘sell.’ This update comes in response to the cancellation of the $10 billion mega-merger with Sony Pictures Network. “With Zee-Sony merger being terminated, we believe Zee’s PE will slump back to 12x levels, seen prior … Read more
A day before the deadline for the extension of the proposed Zee-Sony merger expires, Zee Entertainment on Friday said that it was unaware of any board meeting held or proposed to be held by Culver Max Entertainment (formerly Sony Pictures Networks India) to discuss merger-related issues. The company also reiterated its commitment to the proposed … Read more
Sony Group Corp has reportedly called for a board meeting today to decide on the $10 billion merger with Zee Enterprises. Two key meetings are expected to happen as per an ET report where a final call will be taken. ET said Sony is likely to call off the deal unless Puneet Goenka, ZEE MD … Read more
Zee Entertainment Limited (ZEEL) might file a suit against Culver Max Entertainment (Sony India) claiming damages if the much-awaited merger between the two companies fails to go through by January 20, a report said. Top company officials informed Hindu Businessline that Zee was compelled to close down certain lucrative ventures in order to adhere to … Read more
Shares of Zee Entertainment bounced back strongly in today’s intraday trade by gaining 4.48%, reaching ₹267.80 apiece, following a 7.64% drop in the previous trading session. The sharp uptick in shares today is attributed to the company’s clarification regarding media reports suggesting a potential cancellation of the planned merger between Zee Entertainment and Sony Group. … Read more
Zee-Sony merger deal: Zee Entertainment Limited on Tuesday clarified that the news and buzz that the multi-dollar merger between Zee Entertainment and Sony’s India arm will be terminated before January 20 is baseless and factually incorrect. News agency Bloomberg on Monday reported that Sony is planning to call off the $10 billion merger and Sony … Read more
Shares of India’s Zee Entertainment fell 10% in early trade on Tuesday, a day after Bloomberg reported that Japan’s Sony was planning to scrap the $10 billion merger of its India unit with the broadcaster. The story, citing sources, said that Sony is looking to cancel the deal over a standoff on whether Punit Goenka … Read more