ZEE Entertainment Enterprises Ltd. (ZEE) has announced its decision to withdraw the merger enforcement application, filed before the National Company Law Tribunal, Mumbai (NCLT-M) for implementation of proposed merger with Culver Max Entertainment Pvt. Ltd (Sony). ZEE-Sony merger was announced back in 2021, which was later called-off by Sony. Thereafter, ZEE approached the NLCT-M seeking enforcement of the merger, which was allowed by NCLT-M in 2023. However, ZEE has now decided not to pursue the merger, citing growth & other strategic opportunities for maximum shareholder value generation.
