Zee Ent Shares Tank 10% On Reports Of Sony Merger Deal Trouble

Zee Entertainment witnessed a significant downturn of 10 percent in its share price during the initial trading hours on Tuesday, January 9. This decline follows recent reports hinting at the potential abandonment of its proposed merger with Sony Group. As per reports, Sony Group is contemplating the termination of the merger agreement with Zee Entertainment Enterprises in India. Sources familiar with the matter suggest that the cancellation is attributed to a deadlock regarding the leadership of the merged entity, particularly concerning whether Zee's CEO, Punit Goenka, who is also the founder's son, would head the joint venture. Zee Share price are trading at ₹251, a loss of 9.5% at early trading hours.