Zee misses $200M Disney payment amid Sony merger uncertainty.
Zee dismissed reports suggesting Sony might cancel the merger, asserting its commitment to the merger and ongoing efforts for a successful conclusion.
Zee Entertainment Enterprises has allegedly failed to meet the deadline for a $200 million payment to Walt Disney Co's India unit for cricket match TV rights. A Bloomberg report links the payment delay to Zee's precautionary cash conservation amid concerns about a potential collapse of its merger with Sony Group Corp.
Zee dismisses rumors of a breakup in the Zee-Sony merger, labeling the speculation as unfounded. Despite the 2021 agreement designating Goenka as the leader of the new company, reports suggest Sony is displeased with the ongoing regulatory investigation against Goenka.
