Zee, Sony settle disputes over failed merger, withdraw claims against each other

NEW DELHI: Zee Entertainment Enterprises Ltd and Sony Pictures Networks India on Tuesday said they have settled their disputes related to the failed USD 10-billion merger and agreed to withdraw all claims against each other.

The settlement stems from a mutual understanding between the companies to independently pursue future growth opportunities with a renewed purpose and focus on the evolving media and entertainment landscape, signifying the definitive conclusion of all disputes, the two companies said in a joint statement.