ZEEL Calls Off Deal with 9X Media
The deal with 9X Media was terminated due to non-completion of certain material conditions precedent.
It has been confirmed that Zee Entertainment Enterprises Limited (ZEEL), the mass media conglomerate has terminated its deal with music broadcaster 9X Media, due to failure to complete specific material Conditions Precedent.
On 6th October, 2017, ZEEL had entered into a definitive agreement for the acquisition of 9X Media and INX Music from New Silk Route and other shareholders for an all cash consideration of Rs. 160 crores.
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