Sony to stay put! Fresh lifeline for Zee as the merger saga continues…

The potential Sony-Zee merger, touted to be one of India’s largest media deals, is believed to continue, in a recent development. In the latest statement issued by the company on Wednesday, ZEEL said, “The company is now in receipt of a communication from CMEPL and BEPL that they will enter into good faith negotiations as required under the Merger Cooperation Agreement (MCA) entered amongst the Parties, the Company, CMEPL and BEP, with a view to discuss the extension of the date required to make the Scheme effective by a reasonable period of time.”