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Will Sony Pictures Networks India announce a new major acquisition by June 30, 2025?
2
Zee Entertainment Enterprises Ltd•Sony Pictures Networks India•Culver Max Entertainment•CMEPL•Bangla Entertainment•BEPL•Singapore International Arbitration Centre•Zee Entertainment
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Official announcements from Sony Pictures Networks India
Story
Zee and Sony Settle Disputes Over Failed $10B Merger; Shares Surge 15%
Aug 27, 2024, 09:34 AM
Zee Entertainment Enterprises Ltd and Sony Pictures Networks India, along with Culver Max Entertainment (CMEPL) and Bangla Entertainment (BEPL), have reached a comprehensive settlement to resolve all disputes related to their failed $10 billion merger. The agreement, signed on August 27, 2024, includes the withdrawal of all applications and claims before the Singapore International Arbitration Centre and other legal entities, including a $90 million termination fee. The settlement is non-cash and aims to terminate the merger transaction amicably. Following the announcement, Zee Entertainment's shares surged by up to 15% in intraday trading.
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