A day before the original merger deadline of December 21, Zee informed in a regulatory filing that Sony has agreed to discuss an extension of the date.
Read More: Zee-Sony merger: Deadline extension in limbo as talks continue
“The Company is now in receipt of a communication from CMEPL (Culver Max Entertainment Private Limited and BEPL (Bangla Entertainment Private Limited )that they will enter into good faith negotiations as required under the Merger Cooperation Agreement (MCA) entered amongst the Parties, the Company, CMEPL and BEPL, with a view to discuss the extension of the date required to make the Scheme effective by a reasonable period of time,” the regulatory filing said.
Read More: ZEE will not be able to meet the deadline to close the merger: SPNI
ZEEL had written to Culver Max Entertainment Private Limited formerly known as Sony Pictures Networks India Private Limited) seeking an extension on December 17.
Read More: Zee-Sony merger at crossroads: Leadership issues and deadline-extension request cast doubt