Zee-Sony merger: BSE seeks clarification from ZEEL on news report
The reply from ZEEL is awaited, the Exchange has said
The Bombay Stock Exchange on Friday sought clarification from Zee Entertainment Enterprises Ltd (ZEEL) regarding a news report, which mentioned that Sony’s board will be taking a call on the merger today.
In a notification on its website, BSE said “The Exchange has sought clarification from Zee Entertainment Enterprises Ltd on January 19, 2024, with reference to news appeared in www.business-standard.com dated January 19, 2024 quoting "Sony Board to take call on $10 billion merger with Zee Entertainment today.”
The reply from ZEEL is awaited, the Exchange said.
All eyes are on the much-anticipated merger of the two media conglomerates which as per sources met today to discuss the final outcome.
According to industry insiders, Zee MD Punit Goenka is likely to step down from the position and not head the merged entity.
Goenka’s heading of the merged entity has been the bone of contention between the two media companies with Sony seeking the appointment of NP Singh as its head.
The development comes ahead of the deadline of the merger deal on January 20.
As per reports, Sony Group Corp has convened a board meeting today to make the crucial decision regarding its $10-billion merger, which was announced in December 2021 and was to be completed by December 2023.
