The Zee-Sony merger in India has taken a dramatic turn. Neither the resignations of independent directors nor the demands raised by institutional investor Invesco prevented the merger agreement from being inked in 2021. However, an interim order from SEBI based on the past complaints raised by the independent directors has the potential to derail or delay the merger. While Zee has appealed against the order, its MD Puneet Goenka has shown a willingness to step down for the merger's success. The drama surrounding the Zee-Sony merger is intense, with high stakes involved. Host Kiran Somvanshi delves into the fate of the merger and the potential consequences of a failed deal and sheds light on the financial, legal, and governance aspects. We speak to - Hetal Dalal, President & Chief Operating Officer - Institutional Investor Advisory Services India Limited; Ashish Kumar Singh, Managing Partner, Capstone Legal; Karan Taurani, Senior Vice President - Research Analyst (Media, Consumer Discretionary & Internet) - Elara Capital and ET's Senior Assistant Editor - Maulik Vyas and Assistant Editor - Javed Farooqui. Credits: Zee TV