Merger of Sony and Zee on the verge of breakdown over differences on leadership

Sony Pictures Entertainment is unlikely to extend the deadline to effect the $10 billion merger of its India business with media baron Subhash Chandra-led Zee Entertainment Enterprises, which brings the country’s largest-ever entertainment deal to the brink of collapse after months of debate over the appointment of a chief executive officer for the merged entity.

Why it’s important: The merger has secured shareholder and regulatory approvals but might come a cropper if Zee CEO Punit Goenka, son of Chandra, insists on holding the same position in the merged entity. Moneycontrol