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Sony cuts PlayStation 5 sales forecast to 21 mn units, plans financial unit IPO Sony Group on Wednesday said it prepares for the spin-off and listing of the shares of Sony Financial Group in October 2025, as it lowered its revenue forecast after sales of its PlayStation 5 gaming consoles slowed down in the quarter ended December 31, 2023. The company said in its consolidated financial results for Q3 FY2023 that in the financial services segment, “we were able to obtain approval for the corporate restructuring plan for a partial spin-off under the ‘Act on S...
Sony cuts PlayStation 5 sales forecast to 21 mn units, plans financial unit IPO
Sony cuts PlayStation 5 sales forecast to 21 mn units, plans financial unit IPO
Source: IANS
2024-02-14 06:18:17 pm
Zee`s stock valuation will likely de-rate: CLSA  Zee Entertainment’s (Zee) proposed merger with Sony after required regulatory and shareholder approvals has been called off. With the merger terminated, Zee’s valuation will likely decline to 12x PE levels (Aug-21) seen prior to the merger announcement, foreign brokerage CLSA said in a report. The stock had de-rated in the past during the promoter share pledging crisis (in 2019) and fall in business cash conversion. “We D/G Zee from BUY to SELL on a revised TP...
Zee`s stock valuation will likely de-rate: CLSA
Zee`s stock valuation will likely de-rate: CLSA
Source: IANS
2024-01-23 10:56:54 am
Sony scraps $10 billion India merger talks with Zee Entertainment  After two years of negotiations, Japan's Sony on Monday terminated a $10 billion merger of their India operations with Zee Entertainment. Here is a timeline of some key moments in the negotiations: September 22, 2021 - Zee Entertainment enters into merger talks with Sony. The company's current CEO Punit Goenka was slated to become the CEO and managing director of the new entity. December 22, 2021 - Sony and Zee sign definitive agreements to form a merged entity. Augu...
Sony scraps $10 billion India merger talks with Zee Entertainment
Sony scraps $10 billion India merger talks with Zee Entertainment
Source: Reuters
2024-01-22 09:37:04 am
Zee says committed to $10 billion merger with Sony India India's Zee Entertainment said on Tuesday it was committed to its merger with Sony's local arm, after media reports said the Japanese firm was planning to scrap the $10 billion deal. Zee said reports of the deal falling through were "baseless and factually incorrect," and that it continues to work towards closing the deal. Sony plans to file a termination notice before the Jan. 20 deadline to close the deal over an impasse on whether Zee CEO Punit Goenka, who is facing...
Zee says committed to $10 billion merger with Sony India
Zee says committed to $10 billion merger with Sony India
Source: Reuters
2024-01-09 01:59:05 pm
Sony`s India unit says it has not yet agreed to merger deadline extension with Zee  Sony Group Corp's Indian unit said on Tuesday that it has not yet agreed to prolong a merger deadline with India's Zee Entertainment Enterprises, days after the latter sought an extension. Shares of Zee Entertainment were down 4.2%. The merger to create a $10 billion media and entertainment powerhouse, which was announced in 2021, had a Dec. 21 deadline to close. "The notice (from Zee) triggers an existing contractual provision in the deal that allows for both part...
Sony`s India unit says it has not yet agreed to merger deadline extension with Zee
Sony`s India unit says it has not yet agreed to merger deadline extension with Zee
Source: Reuters
2023-12-19 10:21:16 am
Sony merger with Zee delayed further The merger of Sony Pictures, a subsidiary of Japan?s Sony Group, with Zee Entertainment has been delayed further by a few months.?Although the transaction was previously expected to close by the end of the first half of the fiscal year ended on March 31, 2024, based on the latest progress, it is currently expected to close in the months ahead. Sony continues to assess the impact of the transaction on its consolidated financial results," Sony said in a statement.?Both companies continue to pro...
Sony merger with Zee delayed further
Sony merger with Zee delayed further
Source: IANS
2023-09-30 09:45:58 am