Zee Ends Legal Fight for Sony Merger, Focuses Growth Strategy

Zee Entertainment has withdrawn its request from court to enforce its failed $10 billion merger with Sony Pictures Networks. The move follows Sony’s decision to cancel the deal in January citing concerns about the agreement.

Despite ending the legal battle, Zee will pursue its claim against Sony in arbitration, including a demand for a $90 million termination fee. The collapsed merger presented challenges for Zee, forcing it to streamline operations and cut costs. As part of this effort, Zee’s MD, Punit Goenka also took a pay cut.