Zee asks Sony for merger deadline extension: Reports
On Friday, in its reply to BSE, Zee mentioned "engaging in good faith negotiations with Sony with a view to discuss the extension of the date"
Zee Entertainment Enterprises has now formally written to Culver Max Entertainment (formerly Sony Pictures Networks India Private Limited) or Sony for an extension to the merger deadline that is supposed to end today (January 20), media networks have reported.
As per reports, Zee is yet to get a reply to this request from Sony.
On Friday, BSE sought clarification from ZEE on a news report regarding the merger but the media company said it was not aware of any Sony board meeting being held with regards to the deal.
“In this regard, we would to clarify that the Company is not aware and cannot comment on any board meeting held or proposed to be held by Culver Max Entertainment Private Limited (formerly Sony Pictures Networks India Private Limited) (“Sony”), given that these are internal matters of Sony.
“We wish to reiterate that the company is committed to the merger with Sony and is continuing to work towards a successful closure of the proposed merger and is engaging in good faith negotiations with Sony with a view to discuss the extension of the date required to make the Scheme effective, by a reasonable period of time.
“We would also like to state that the Company has always complied with the obligations under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and will continue to make disclosures in accordance with the same. We hope the above clarifies the matter,” it said.
