Zee-Sony merger deal fallout: The hearing for an emergency arbitration in the Zee Entertainment – Sony merger will take place at the Singapore International Arbitration Centre (SIAC). on Wednesday, 31 January.
On 22 January, Sony Group Corp, the Japanese parent company of Sony Picture Network India (SPNI) and Bangla Entertainment Pvt Ltd (BEPL) announced the termination of the USD 10 billion merger agreement with ZEEL, while seeking USD 90 million for breach of conditions besides initiating arbitration.
Zee Entertainment initiated legal action to contest Sony’s claims of $90 million (around ₹748.5 crore) as a termination fee, for which the Japanese firm has moved the Singapore International Arbitration Centre (SIAC).
