Sony India Moves Against Zee in Singapore Arbitration Case, Chief N.P. Singh Looks to ‘Strengthen Market Presence’
Sony Group Corporation has initiated a Singapore arbitration case against Indian TV giant Zee Entertainment Enterprises Limited (ZEEL), alleging breaches of their failed merger agreement, Variety has confirmed. The $10 billion merger, which would have seen the two entities merge their TV and streaming businesses in India, was terminated on Monday by Sony after a two-year process. Sony is seeking a $90 million termination fee from ZEEL.