Zee and Sony have one-month headroom to close the merger, media networks have reported quoting Bloomberg News.

This means the deal has to be finalised before January 21, 2024.

When the merger pact was signed in 2021, the provision agreed upon by the parties stipulated a 30-day grace period from the deadline in case either party sought more time, Bloomberg has reported.

On December 20, ZEEL informed BSE thatSonyhas agreed for discussion on merger deadline extension.

“The Company is now in receipt of a communication from CMEPL and BEPL that they will enter into good faith negotiations as required under the Merger Cooperation Agreement (MCA) entered amongst the Parties, the Company, CMEPL and BEPL, with a view to discuss the extension of the date required to make the Scheme effective by a reasonable period of time,” ZEEL said in a filing.

On December 17,ZEELhad asked Culver Max Entertainment (CMEPL) to extend the timeline to complete the merger. However, Sony then did not agree to the deadline extension.