After collapse of merger talks, Zee seeks $90 mn termination fees from Sony

Zee Entertainment Enterprises had said that it has sought $90 million (Rs 750 crore) termination fees from Sony and its affiliates in India. In a statement to the stock exchanges, Zee said it has, on account of Culver Max’s and BEPL’s breaches under the merger cooperation agreement, terminated the agreement by issuing a letter dated May 23 and has sought a termination fee from Culver Max and BEPL in accordance with the provisions of the merger cooperation agreement (MCA). The matter is currently under litigation.