Culver Max Entertainment (formerly known as Sony Pictures) has terminated its proposed $10 billion merger agreement with Zee Entertainment Enterprises (ZEEL), while seeking $90 million for breach of conditions besides initiating arbitration, charges that the Indian firm has refuted.
On December 22, 2021, Sony Pictures Networks India (SPNI) and ZEEL had entered into a definitive agreement to merge, with a two-year deadline. However, last December, the deadline was extended for a month as per the provisions of the agreement, after both companies failed to resolve their difference.
Zee Entertainment Enterprises is one of India’s leading television media and entertainment companies. It is amongst the largest producers and aggregators of Hindi programming in the world.
Company Name | CMP |
---|---|
Zee Entertainment | 145.95 |
Sun TV Network | 663.95 |
GTPL Hathway | 178.25 |
TV18 Broadcast | 46.56 |
Den Networks | 53.25 |
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