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Japan's Sony terminates $10 billion merger with India's Zee
  + stars: | 2024-01-22 | by ( ) www.cnbc.com   time to read: +2 min
Japan's Sony Group said on Monday it has sent a termination notice to Zee Entertainment to call off a $10 billion merger of their Indian operations, following an impasse over who will lead the combined entity. It cited unmet conditions of the merger agreement as the reason for the termination. Although Sony did not specify on Monday what conditions were unfulfilled, a stalemate over who will lead the combined company had put the merger in danger. Zee proposed CEO Punit Goenka, but Sony disagreed in light of a market regulator probe into Goenka. On Friday, Zee had said it was committed to the merger and was working to close the deal through "good faith negotiations".
Persons: Mukesh, Zee, Punit Goenka, Karan Taurani Organizations: Sony, Zee Entertainment, Reliance Industries, Goenka, Reuters, Disney, Elara Capital, Netflix, Disney's Star, Zee, Bloomberg Locations: Mumbai, Maharashtra
A two-night stay at the Star Wars-themed Galactic Starcruiser hotel and attraction typically costs $5,000. Two nights at the Star Wars-themed Galactic Starcruiser hotel and attraction, which launched last year, typically costs guests $5,000, according to the New York Post. Now, Disney is offering up to $700 in discounts, as it looks to fill beds at the much-lauded spot, according to the Walt Disney World website. Some media outlets, like CNBC, applauded the hotel for its ability to bring guests into the world of Star Wars, but guests have remained lukewarm. "Genuinely Disney is going to have to eventually drop that price on galactic starcruiser," one user Tweeted.
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