Entertainment network Zee Entertainment Enterprises Limited (ZEEL) has called off its deal with music broadcaster 9X Media citing non-completion of certain material conditions precedent. In October last year, Punit Goenka-led ZEEL had entered into a definitive agreement to acquire 9X Media and INX Music from New Silk Route and other shareholders for an all cash consideration of Rs.1.6 billion.
Zee terminates 9X Media acquisition deal, says certain conditions unmet
Date posted: Monday 19 March 2018