Sony Ends $10 Billion Merger With India Media Giant Zee
Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Sony Ends $10 Billion Merger With India Media Giant Zee
Sony Ends $10 Billion Merger , With India Media Giant Zee.
The deal was called off
on Jan.
22, CNN reports.
.
According to Sony, “the closing conditions
to the merger were not satisfied.”.
However, the company “does not anticipate any material impact on its consolidated financial results as a result of the termination of the definitive agreements for the merger.”.
Sony expects Zee to pay a $90 million
termination fee “on account of alleged breaches.”.
Mumbai-based Zee “categorically denies
all the assertions … including their claims
for the termination fee,” according to
a statement made by the company.
.
Zee is reportedly “evaluating all
the available options.”.
While the deal's unmet conditions
weren't specified, .
There is speculation that the two
companies disagreed about who would
lead the entity following the merger.
.
Zee wanted its CEO,
Punit Goenka, to run things, .
But Sony wasn't happy with that choice, considering Goenka is being investigated by India's market regulator, according to reports by Reuters.
Sony Names New PlayStation Co-CEOs , Following Jim Ryan’s Departure.
Beginning June 1, Hermen Hulst and Hideaki Nishino will lead PlayStation, The Verge reports.
Beginning June 1, Hermen Hulst and Hideaki Nishino will lead PlayStation, The Verge reports.
Hulst will oversee Sony Interactive Entertainment's (SIE) studio business group.
while Hideaki will helm
SIE's platform business group.
Both men will report to Hiroki Totoki,
Sony's CFO and SIE chairman.
Hulst's current role is PlayStation studios chief.
Nishino has held several positions
at Sony for over 20 years. .
PlayStation has never before had co-CEOs.
The announcement comes as 900 PlayStation employees were laid off earlier this year.
Last quarter, Sony lowered its
predictions for PS5 console sales. .
Earlier this year, Totoki discussed the
possibility of growing PlayStation
games outside of consoles.
In the past, we wanted to
popularize console... but
there is a synergy to it. , Hiroki Totoki, Sony's CFO and SIE chairman, via earnings call.
So if you have strong first-party content,
not only with our console but also other
platforms like computers, first-party can
be grown with multi platforms and that
can help operating profit to improve, Hiroki Totoki, Sony's CFO and SIE chairman, via earnings call
Credit: Wibbitz Top Stories Duration: 01:30Published
Jodie Comer, Aaron Taylor-Johnson and Ralph Fiennes are teaming up for the long-awaited next sequel to '28 Years Later.' The trio have been cast in the follow up to the original 2002 film which centered on a man played by Cillian Murphy who wakes up in the hospital to find the UK overtaken by a zombie plague. 'Civil War' filmmaker Alex Garland, who penned the script, is back to write what is intended to be a trilogy of films for Sony. Danny Boyle is also back in the director's chair for the feature.
Credit: The Hollywood Reporter Duration: 01:04Published
Austin Butler is teaming up with Darren Aronofsky for his next feature. Hot off his creepy villain turn in 'Dune: Part Two,' Butler is set to next star in the Aronofsky crime thriller 'Caught Stealing.' Acquired by Sony and based on the book by Charlie Huston, the film "follows Hank Thompson, a burned-out former baseball player, as he's unwittingly plunged into a wild fight for survival in the downtown criminal underworld of '90s NYC."
Credit: The Hollywood Reporter Duration: 01:11Published
Maharashtra Deputy CM Devendra Fadnavis discusses the influence of Marathi and Muslim voters on Mumbai seats, highlighting alliances and political strategies. He.. IndiaTimes
The owner of Ego Media has a history of police cases-over 20 total, including one involving rape.Bhinde is reportedly on the run and has turned off his mobile,.. DNA
Mumbai experienced its first rainfall of the season, accompanied by a massive dust storm that darkened the sky. The sudden weather change brought chaos, disrupting traffic and causing trees to topple. Tragedy struck when a giant billboard collapsed on a fuel station, killing 14 people and injuring 74. Rescue efforts are underway, while Mumbai remains in shock over the devastation.
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