Zee, Sony amicably settle disputes over failed merger, withdraw claims

Zee Entertainment Enterprises (ZEEL) and Culver Max Entertainment, operating as Sony Pictures Networks India (SPNI) together with its group company Bangla Entertainment, said they have arrived at “a non-cash settlement, amicably resolving all disputes” over the merger co-operation agreement and the composite scheme of arrangement between the parties, according to the company’s joint statement issued on Tuesday.