Sony Scraps $10 Billion Merger With Zee Entertainment, Setting Stage for Legal Row

Japan's Sony Group scrapped plans on Monday for a $10 billion (roughly Rs. 83,098 crore) merger of its Indian unit with Zee Entertainment, ending a deal that could have created one of the South Asian nation's biggest TV broadcasters.

The collapse of the deal in content-hungry India creates more uncertainty for TV broadcaster Zee in particular as competition heats up, with Disney also seeking to merge its Indian businesses with the media assets of billionaire Mukesh Ambani's Reliance.