Sony plans to call off $10 billion merger with Zee: Report

Sony Group plans to cancel the merger pact of its India unit with Zee Entertainment Enterprises due to a standoff over whether Zee's CEO Punit Goenka would lead the merged entity. Sony no longer wants him as CEO amid a regulatory probe. Discussions are ongoing, but a resolution must be reached before the January 20 deadline. Meanwhile, Mukesh Ambani is negotiating a merger with Walt Disney's India unit to strengthen Reliance Industries's media ambitions.