Sony-Zee Merger Delayed – Global Bulletin
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variety.comNaman Ramachandran The proposed merger between Indian powerhouse Zee Entertainment Enterprises and Sony‘s Indian TV businesses, which has been nearly two years in the making, is likely to be delayed further, Sony said in a filing on Friday.
The companies cleared a key regulatory hurdle in August, but there are other matters pending, especially that of leadership.
The original plan had foreseen that Zee’s CEO Punit Goenka would be its captain, while Sony would own a 51% controlling stake.
However, Goenka was banned from managing any listed company in India following an interim regulatory report that accused him and Zee founder Subhash Chandra of running the company for their own benefit and “siphoning off” money.
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