NEW DELHI: Amid media reports that Culver Max Entertainment Private Limited (formerly known as Sony Pictures Networks) has refused Zee Entertainment’s request for extension of the merger deadline, Zee has said that Sony has agreed to discuss the extension request.
“The Company is now in receipt of a communication from CMEPL and BEPL 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,” Zee Entertainment Enterprises informed the exchanges on Wednesday.
Bangla Entertainment Pvt Ltd is an indirect wholly-owned subsidiary of Sony Group. Zee on Sunday informed exchanges it had requested CMEPL and BEPL to extend the date required to make the merger scheme effective.