Zee and Sony amicably settle disputes over their failed merger, to withdraw claims

ZEE Entertainment Enterprises Ltd (ZEEL) and Sony Pictures Networks India on Tuesday said they have settled their six-month-long dispute related to the failed USD 10-billion merger and have agreed to withdraw all claims against each other.

As part of the “comprehensive non-cash settlement” between ZEEL and Culver Max Entertainment Pvt Ltd (CMEPL), both “have mutually agreed to withdraw all respective claims against each other, in the ongoing arbitration at the SIAC and all related legal proceedings initiated in the NCLT and other forums,” said a joint statement.