Zee and Sony India Settle Disputes, Terminate $10 Billion Merger Deal

• Zee Entertainment and Sony's Culver Max reach settlement agreement
• Companies to withdraw claims from Singapore arbitration center
• $90 million termination fee and damage claims relinquished
• Zee shares close 11% higher at Rs 150.90 after announcement
• Merger would have created $10 billion media company with 70+ TV channels

Source: Economic Times