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Zee-Sony Merger: ZEEL seeks extension to the merger deadline
Zee Entertainment wrote to Sony Group Corp requesting an extension of the merger's timeline.
The advertisement and publicity expenses of Zeel plunged to Rs 275 crore compared to Rs 289 crore in Q1 FY25
Zee Entertainment Enterprises Limited (ZEEL) is seeking an extension to the merger deadline, initially set for December 21. ZEEL has written to Culver Max Entertainment Private Limited formerly known as Sony Pictures Networks India Private Limited) (CMEPL) and Bangla Entertainment Private Limited (BEPL), seeking an extension.
On December 15, The National Company Law Appellate Tribunal (NCLAT) refused to grant a stay on the merger of media giants Zee Entertainment Enterprises Limited (ZEEL) and Sony. The tribunal has however issued notice in the plea and listed the case for hearing on January 8. Axis Finance and IDBI bank had challenged the merger in the NCLAT.
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