The mega-merger between Zee Entertainment Enterprises Ltd (ZEEL) and Sony Pictures Networks India (SNPI) was called off on January 22 with the latter issuing a termination letter to formally exit from the amalgamation agreement.

• One of the main reasons behind the $10 billion deal being derailed was the lack of consensus over who would head the merged entity, reports said.
• While ZEEL MD and CEO Punit Goenka earlier agreed upon as the candidate to be at the helm of the merged company, Sony reportedly sought a reconsideration after Goenka came under a SEBI probe.