Zee working towards ‘successful closure’ of merger with Sony

New Delhi: Zee Entertainment on Tuesday said it is ‘committed’ to the merger with Sony Pictures Networks India and is working towards a ‘successful closure’ of the transaction that will create the country’s largest media house worth $10 billion.

The deadline of completion of the merger with Sony Pictures, now known as Culver Max Entertainment Private Ltd (CMEPL), has been extended for a month till January 21 after Zee Entertainment Enterprises Ltd (ZEEL) sought an extension under the Merger Cooperation Agreement signed between them two years before.

“We wish to reiterate that the company is committed to the merger with Sony and is continuing to work towards a successful closure of the proposed merger,” ZEEL said in a filing to the stock exchanges.