The Japanese conglomerate is reportedly reevaluating its stance on Punit Goenka as the CEO of the merged entity in light of an ongoing regulatory probe. But experts believe Sony-Zee might go ahead with the merger as Disney-RIL talks are gaining traction
As news of the Sony Group calling off the proposed $10 billion merger with Zee Entertainment’s India operations came out, shares of Zee Entertainment crashed by 10 percent to Rs 249 per share on January 9. However, Zee Entertainment soon issued a clarification stating the news of the Sony-Zee merger termination was baseless and factually incorrect. “Zee is committed to the merger with Sony and is continuing to work towards a successful closure of the proposed merger,” the company said in a regulatory filing today. The merger was announced two years ago, in an attempt to create India’s largest broadcast company.