Zee Entertainment sends letter to Sony Group Corporation, requesting an extension of cutoff to complete merger
Zee Entertainment has sent a letter to Sony Group Corporation requesting an extension of the cutoff to complete the merger.
The cut-off date for concluding the merger is December 21.
Zee had inked a deal to merge with Sony's India Culver Max Entertainment in December 2021.
While the merger has received all the requisite approvals, differences have cropped up between the two over the CEO position.
Sony is insisting that ZEEL MD & CEO Punit Goenka make way for Sony Pictures Networks India MD & CEO NP Singh as the CEO of the merged entity since he continues to be under the Sebi investigation.
Goenka, who was expected to be the MD & CEO of the merged firm, has contended that the Sebi ban against him has been overturned by the Securities Appellate Tribunal.
