ZEEL demands $90 million termination fee from Sony - Reports

Zee Entertainment (ZEEL) is demanding a $90 million termination fee from Sony Pictures Networks India (now Culver Max) and its subsidiary Bangla Entertainment (BEPL) for walking away from their $10 billion merger deal in January.

As per media reports, ZEEL claims Sony violated the agreement and has terminated it, requesting the termination fee as outlined in the contract. Sony, however, disagrees and argues ZEEL failed to meet merger conditions. They have initiated arbitration proceedings in Singapore seeking their own $90 million termination fee.

This disagreement comes after ZEEL incurred Rs 432 crore in merger-related costs over the past two years, highlighting the financial impact of the failed deal.