The fate of the $10-billion Zee-Sony merger is likely to be decided today as news reports say Sony Group Corp has called for a board meeting with ZEE.

According to the reports, two meetings have been called – one by Culver Max Entertainment and the other by Sony at its Tokyo headquarters.

The Tokyo Stock Exchange will be informed early next week if the deal is terminated, a report said quoting sources.

e4m reported earlier that two prevailing narratives hint at a potential middle ground for closing theZee-Sony deal. One suggests that Zee might leverage the situation to seek a higher valuation, demanding additional funds in exchange for reconsidering its decision to exclude Punit Goenka from heading the merger. The alternative narrative suggests a potential consensus on appointing a neutral third party as the CEO, a decision jointly agreed upon by Zee and Sony.Sonyhad said at the start of January that the negotiations will go on till January 20.

Zee has maintained that thenegotiationsare on and efforts are to make the deal materialise. On January 9, it even informed the BSE that the company is committed to themerger.

Speculations have been around since the start of 2024 that the Zee-Sony merger deal might be called off, with reports suggesting that Sony was preparing to send a termination notice to Zee. The deal was to be finalised by December 2023.

Media outlets have even explored legal options available to both companies in the event of a terminated deal.