It all began in September 2021 with the announcement of a merger between Zee Entertainment Enterprises Ltd. and Sony Group Corp.'s Indian unit with an aim to create a media giant.
Despite initial approvals from shareholders and regulatory bodies, the journey was marred by insolvency petitions, opposition from creditors, and a SEBI ban on key Zee executives. As legal disputes escalated, Sony eventually terminated the merger in January 2024, leading to further arbitration.
After months of back and forth in courts and tribunals, the merger drama concluded on Tuesday with both parties reaching a mutual, non-cash settlement to resolve all merger-related disputes, marking the end of a turbulent and closely watched corporate saga.
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