Zee and Sony Are in Talks to Extend Merger Deadline

Zee Entertainment Enterprises said on Wednesday that it was in talks with Sony Group’s India unit about extending a merger deadline to create a $10 billion media and entertainment powerhouse.

The units of both companies have communicated the intention to be merged by entering into “good faith negotiations,” Zee said, as they seek to clear the uncertainty over the leadership of the combined entity.

The deal announced two years ago by Sony and Zee to merge their TV channels, streaming platforms and film assets has been delayed after India’s markets regulator in August barred Zee CEO Punit Goenka from directorships of any listed company.

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