Not aware of Sony board meeting today, clarifies Zee Ent
Zee Entertainment Enterprises (ZEE) on Friday said that it is not aware of any board meeting of Sony Pictures, where it was expected to seal the fate of a $10-billion merger deal.
«The company is not aware of, and cannot comment on, any board meeting held or proposed to be held by Culver Max Entertainment Pvt Ltd (formerly Sony Pictures Networks India Private Limited), given that these are internal matters of Sony,» Zee said in a filing.
Punit Goenka-led Indian media giant reiterated that it is committed to the merger with Sony and is continuing to work towards a successful closure of the proposed merger.
Earlier today, multiple media outlets reported that a board meeting of Sony was scheduled on Friday to take a call on the merger deal with Zee.
«Two key meetings are set to be held back-to-back. Culver Max Entertainment is likely to hold a board meeting on Thursday night, followed by Sony at its Tokyo headquarters,» an ET report noted.
Reacting to the media reports, Zee said it 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.
Zee and Sony agreed on a merger two years ago, but the proposed deal hit a brick wall after Sony expressed inhibitions about Goenka running the combined entity.
It was expected that the deal would be completed within the stipulated deadline of December 2023.
