India’s Zee Entertainment dives 31% after Sony calls off mega merger

News

Logo for ZEE5, an over-the-top platform of Zee Entertainment Enterprises.
Bloomberg | Bloomberg | Getty Images

Shares of India’s Zee Entertainment fell 31% on Tuesday after a division of Japanese tech giant Sony scrapped plans for a merger.

Sony first proposed to combine its India entertainment business with Zee in December 2021. Those negotiations collapsed after more than two years.

On Monday, Sony said that it terminated the merger because “among other things, the closing conditions to the Merger were not satisfied” by the agreed closing date.

– This is a breaking news story. Please check back for more.

Articles You May Like

Sony Readying a ‘Pro’ Version of PS5 This Year Ahead of GTA 6 Launch in 2025: Report
Sony Testing PC VR Games Support for PS VR2; Will Be Available in 2024
Nintendo Switch 2 Will Be Delayed to Early 2025, Console Maker Tells Game Publishers
Adobe Introduces Generative AI Assistant That Can Summarise PDFs for Acrobat and Reader
Samsung Galaxy Z Fold 6 Camera Upgrade Tipped; May Get Same Camera as Galaxy S24 Ultra