Zee Entertainment faced Rs 432 crore merger costs in failed Sony deal

Zee Entertainment incurred Rs 432 crore in merger-related costs during financial years 2023-24 and 2022-23 due to its failed merger deal with Sony Group Corporation’s Indian media unit, Culver Max Entertainment, according to a report by The Economic Times.

The firm’s merger-related costs were Rs 256 crore in 2023-24 and Rs 176 crore in the previous year. The merger agreement with Culver Max Entertainment was terminated on January 22 due to disagreements over leadership and unmet closing conditions.