Shares of Zee Entertainment, one of India’s largest media companies, fell by almost 7% on Tuesday after the country’s securities regulator announced its promoters could not hold board positions in any listed company for a year. The move is believed to have potential implications for the company’s planned merger with a unit of Sony. Sony and Zee agreed to combine their television channels, film assets, and streaming platforms towards the end of 2021, but the merger has been plagued by legal battles and defaults. Zee’s board is reviewing SEBI’s order, and the company is seeking legal advice to determine its next steps.
Zee’s Shares Drop as Sony Merger Delay Worries Return Following SEBI Promoter Ban
Date:
Updated: [falahcoin_post_modified_date]
More like thisRelated
Revolutionary Small Business Exchange Network Connects Sellers and Buyers
Revolutionary SBEN connects small business sellers and buyers, transforming the way businesses are bought and sold in the U.S.
District 1 Commissioner Race Results Delayed by Recounts & Ballot Reviews, US
District 1 Commissioner Race in Orange County faces delays with recounts and ballot reviews. Find out who will come out on top in this close election.
Fed Minutes Hint at Potential Rate Cut in September amid Economic Uncertainty, US
Federal Reserve minutes suggest potential rate cut in September amid economic uncertainty. Find out more about the upcoming policy decisions.
Baltimore Orioles Host First-Ever ‘Faith Night’ with Players Sharing Testimonies, US
Experience the powerful testimonies of Baltimore Orioles players on their first-ever 'Faith Night.' Hear how their faith impacts their lives on and off the field.
