Sony pulls plug on $10bn merger with Zee, seeks $90m termination fees

Sony Corp terminates the $10 billion merger between its India unit and Zee Entertainment Enterprises due to unmet conditions. Disagreements over leadership and a regulatory investigation against Zee's proposed MD Punit Goenka caused the deadlock. Sony seeks $90 million in termination fees and invokes arbitration. Zee refutes the claims and plans to take legal action.