Sony Plans to Terminate $10 Billion Merger with Zee Entertainment

Disagreement over leadership amid regulatory investigation prompts Sony to reconsider merger, causing Zee's shares to tumble.

Sony is reportedly planning to call off its $10 billion merger with Zee Entertainment due to a disagreement over leadership of the merged entity.
The initial agreement stated that Zee's CEO, Punit Goenka, would lead the new company, but Sony has changed its stance amid an ongoing regulatory investigation into Zee.
Sony plans to file a termination notice before the extended January 20 deadline for closing the deal.
Shares of Zee Entertainment fell nearly 14% following the news, marking their worst day since April 2021.
Discussions between the two companies are still ongoing, and a resolution could still emerge before the deadline.