Zee Entertainment calls report of $10 million repayment ‘speculative’

On Thursday, Zee Entertainment Enterprises Ltd (ZEEL) called the report saying it will repay $10 million to IndusInd to wrap the Sony deal as “speculative”. In a filing with BSE, the media company said it is exploring several strategies related to the ongoing dispute.

ZEEL added, “there is no clarity at this stage as to which resolution or strategy the Company will finally pursue, much less the timing of any such strategy. Accordingly, we believe that the news report is speculative in nature.”

On Thursday, Bloomberg reported that the media company has agreed to repay its dues to the IndusInd Bank to resolve insolvency proceedings against it and get a step closer to completing its merger with the Sony Group.