‘Sony, Zee will conclude merger, won’t let top job become a dealbreaker’

Mumbai: Legal experts expect the merger of Sony Group Corporation’s India media division, Culver Max Entertainment, also known as Sony Pictures Networks India, and Punit Goenka-led Zee Entertainment Enterprises (ZEEL) to proceed despite disagreements over the position of CEO of the merged entity as the contractual drop off date of December 20 nears.

Abhijit Joshi, managing partner at Veritas Legal said a scheme, once approved by all the authorities, should typically proceed subject to the conditionalities as per the scheme. “Typically, there is a lag between the approval from the court or tribunal and the effectiveness of the scheme. The scope of withdrawal will be limited and will depend on conditionalities to its effectiveness under the provisions of the scheme,” he said.