Key Points
Zee Entertainment Enterprises Ltd. tumbled as much as 10% after the cancellation of a planned $10 billion merger with..
At least nine brokers including Citigroup Inc and CLSA reduced their ratings on the stock as efforts to create an entertainment giant in Asias biggest streaming market collapsed amid a stalemate over who will head the combined entity.. dropped as low as 208.3 rupees in Mumbai, the worst performer on the S&P BSE 500 Index..
The stock trades at about 21 times its 12-month forward estimated earnings, versus 17 times in September 2021, just before the company announced it had agreed to merge with a Sony Group entity, data compiled by Bloomberg show...
Sony was expected to benefit from Zees deep library of content in regional Indian languages and dozens of local television channels..
You might be interested in
Zee-Sony merger: Deal completion expected to take a few more months
29, Sep, 23Zee-Sony merger faces further delays; the deal is expected to close in the coming months.
Sony calls off merger of its India unit with Zee Entertainment: Report
22, Jan, 24Sony Group officially communicates cancellation of merger with Zee Entertainment.
Reliance and Disney announce $8.5 billion media assets merger in India
28, Feb, 24Reliance will infuse $1.4 billion in the merged entity, with the company and its affiliates holding a more than 63% stake. Disney will hold about 37%, the companies said in a joint statement.
Zee, Sony to discuss extension of deadline to complete merger
20, Dec, 23The deal to create a $10-billion media and entertainment powerhouse was first announced two years ago but has been delayed due to various reasons
Zee-Sony merger likely to be called off, termination notice to be issued by Jan 20: Report
08, Jan, 24Zed Entertainment and Sony's India division may not merge after all, with Sony probably going to give a notice of termination before January 20th, according to reports on Monday. According to news agency Bloomberg, Sony is to back out of the $10 billion deal that would have made it the largest media company in the country.
NCLT approves merger of Zee Entertainment with Sony India
10, Aug, 23In December 2021, Zee Entertainment and Sony India reached an agreement to combine their businesses
Zee shares plummet 10% on buzz of Sony calling off $10 billion merger
09, Jan, 24India Business News: Shares of Zee Entertainment Enterprises Ltd (ZEEL) have plummeted following reports of Sony Group Corp considering calling off the $10 billion merger.
Sony’s India unit says it is yet to agree to Zee’s merger deadline extension request
19, Dec, 23"The notice (from Zee) triggers an existing contractual provision in the deal that allows for both parties to discuss the possibility of extending the deadline," said SPNI.
Zee Entertainment refutes reports about termination of the Zee-Sony merger
09, Jan, 24India Business News: Zee Entertainment dismisses rumours about the termination of the $10 billion merger with Sony India. ZEEL is dedicated to ensuring the successful comp
Zee Entertainment requests Sony India to extend the deadline for merger
17, Dec, 23Zee-Sony merger: Zee Entertainment has sent a letter to Sony Group Corporation requesting an extension of the timeline of the merger of the two entertainment companies