Sony India & Zee Entertainment Settle Disputes Over Failed $10B Merger – IMDb

A joint statement released this morning said the parties, including Sony’s group company Bangla Entertainment, had arrived at a “comprehensive non-cash settlement, amicably resolving” issues that resulted from the collapse of the merger earlier this year.

As part of the agreement, the companies have agreed to “withdraw all respective claims against each other.” Arbitration had been ongoing at the Singapore International Arbitration Centre. Sony’s Culver Max operates as Sony Pictures Networks India locally. Several other issues related to a tribunal have been dropped.

The companies noted that neither will have any obligations to the other going forwards, and said the settlement “stems from a mutual understanding between the companies to independently pursue future growth opportunities with a renewed purpose and focus on the evolving media and entertainment landscape.”

Sony had…