Sony sends termination letter to Zee over India merger

Sony officially terminates the merger with Zee Entertainment, citing unmet conditions and a leadership dispute. The termination follows a stalemate over whether Zee's CEO, Punit Goenka, would lead the merged entity amid an investigation into his conduct. Sony's decision leaves Zee vulnerable to competition as rivals strengthen. The termination letter from Sony came after a 30-day grace period ended over the weekend.