Sony Ends $10 Billion Merger , With India Media Giant Zee.<br />The deal was called off <br />on Jan. 22, CNN reports. .<br />According to Sony, “the closing conditions <br />to the merger were not satisfied.”.<br />However, the company “does not anticipate any material impact on its consolidated financial results as a result of the termination of the definitive agreements for the merger.”.<br />Sony expects Zee to pay a $90 million <br />termination fee “on account of alleged breaches.”.<br />Mumbai-based Zee “categorically denies <br />all the assertions … including their claims <br />for the termination fee,” according to <br />a statement made by the company. .<br />Zee is reportedly “evaluating all <br />the available options.”.<br />While the deal's unmet conditions <br />weren't specified, .<br />there is speculation that the two <br />companies disagreed about who would <br />lead the entity following the merger. .<br />Zee wanted its CEO, <br />Punit Goenka, to run things, .<br />but Sony wasn't happy with that choice, considering Goenka is being investigated by India's market regulator, according to reports by Reuters.
