Sony Calls Off Proposed Merger With Zee Entertainment

In a major setback for India’s media industry, Sony Group has officially terminated its plans to merge with Zee Entertainment Enterprises, ending over two years of negotiations between the two giants.

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The merger faced headwinds for several months as both companies struggled to agree on key leadership and board representation terms.

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Goenka’s position was also under a cloud owing to ongoing investigations regarding alleged financial irregularities previously.

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This brings the prolonged corporate battle between the Japanese and Indian broadcasting majors to an unexpected end.

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The broken deal creates a void for industry consolidation at a time when streaming giants are dominating over broadcasters.

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Key questions remain over the future course of action for the two media groups post-termination.

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