Sony, Zee Have Until Late January to Close $10 Billion Merger
- 2021 pact gave this leeway beyond the Dec.21 deadline: sources
- Sony said that it’ll hear Zee’s proposals on closing the deal
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Sony Group Corp. and Zee Entertainment Enterprises Ltd. have a one-month grace period starting Thursday to close the merger of their India operations that will create a $10 billion media behemoth, according to people familiar with the matter.
A 30-day period after the Dec. 21 deadline was included in the merger pact signed in 2021 if either party sought more time, said people familiar with the discussions who didn’t want to be identified as the information is private. Zee is hopeful of tying up loose ends before the grace period is over, they said.