Sign From The Lord”: Zee CEO, In Ayodhya, Posts On Sony Merger Breakdown

New Delhi: 

Zee Entertainment Enterprises Ltd (ZEEL) boss Punit Goenka today posted an update about a cataclysmic development in his company while attending the Ram temple consecration ceremony in Uttar Pradesh’s Ayodhya.

Japan’s Sony Group Corp has sent a merger termination notice to ZEEL, along with a demand of $90 million for alleged breaches of the merger cooperation agreement by Mr Goenka’s company.

The ZEEL managing director and chief executive, who is among the high-profile guests invited at the pran prathistha ceremony, in a post on X alluded to the developments in his company as “a sign from the Lord”.

As I arrived at Ayodhya early this morning for the auspicious occasion of Pran Pratishtha, I received a message that the deal that I have spent two years envisioning and working towards had fallen through, despite my best and most honest efforts,” Mr Goenka said.

“I believe this to be a sign from the Lord. I resolve to move ahead positively and work towards strengthening Bharat’s pioneering M&E Company, for all its stakeholders. Jai Shri Ram,” he said.