Zee Entertainment Enterprises has incurred a cost of Rs 432 crore due to a failed merger with Sony Pictures. The company is now seeking a termination fee of Rs 749 crore ($90 million) from Sony Pictures and its entities, including Bangla Entertainment Pvt. Ltd. The $10-billion merger deal, which was called off in January, has led Zee to demand compensation for the incurred expenses. Sony has cited Zee's failure to meet merger conditions as the reason for the deal's collapse. The termination fee request has been directed at Sony's Culver Max and Bangla Entertainment units. Following the collapse of the merger, Zee Entertainment's stock has experienced a decline.
Zee seeks $90 million termination fee from Sony for failed merger #BusinessNews https://t.co/DkAwOtfvNh
Sony Faces USD 90 Million Lawsuit From Zee After Merger Talks Fail https://t.co/tcBflfdW3P https://t.co/P6K6nqw235
Zee Entertainment Enterprises has sought $90 mn termination fees from Sony and its affiliates in India. @ParagonWorli18 #ZeeEntertainment #India #Sony https://t.co/FLbVTO7BeQ
Sony had said ZEEL failed to satisfy merger conditions https://t.co/dcDqBR3O62
#ZeeSonyMerger: #Zee Entertainment Demands USD 90 Million Termination Fee From #Sony https://t.co/9iVpYlsAmI
India's Zee Entertainment stock stumbles since Sony deal collapse https://t.co/FCw9wPcB8e
#Zee asks #Sony's #CulverMax and #BEPL to pay $90 million as termination fee for ending $10 billion deal https://t.co/WAD52Fu3LO
#JustIn | #ZeeEntertainment seeks termination fee of $90 m from Culver Max & Bangla Entertainment (Sony) https://t.co/ruWS8vcfOs
Rs 749 crore termination fee! ZEE seeks a big cheque from Sony for $10 bn merger cancellation https://t.co/8pmFjJrZKs
#Zee seeks termination fee of $90 mn from #Sony 🗞️ Catch the day's latest news and updates ➠ https://t.co/EvpyBYmcor https://t.co/5a7B5wyAsz
ZEE Ltd has sought a termination fee of $90 million from Sony Pictures and its entity Bangla Entertainment Pvt. Ltd. for pulling the plug on a $10-billion merger deal in January. Read on 👇 https://t.co/5eRofvJXn5 #Zee #Sony #Merger
#Zee shelled out Rs 432 crore on failed merger with #Sony unit https://t.co/YVKxYzO4Fb
Costly breakup: Here’s how much Zee spent on failed merger with Sony https://t.co/VRW9rMhvbh
Zee Entertainment faced Rs 432 crore merger costs in a failed Sony deal. #ZeeEntertainment #Merger #Sony https://t.co/XLCpdqVbfz
#LeadStoryOnET | The cost of 'break up': #Zee shelled out Rs 432 #crore on #failed #merger with #Sony https://t.co/YVKxYzOCuJ