In an unexpected twist reported exclusively by Bloomberg, Sony has opted to withdraw from the $10 billion merger deal with Zee Entertainment. Industry insiders have revealed that Sony is poised to serve Zee with a termination notice, and this significant development is anticipated to unfold before the 20th of January.
This decision, shrouded in secrecy until Bloomberg’s exclusive coverage, marks a substantial shift in the dynamics of the proposed merger between Sony and Zee Entertainment. The termination notice, expected to be formalized in the coming days, adds a layer of complexity to an already intricate legal landscape surrounding the merger.