"Sony Terminates $10 Billion Zee Merger, Seeks $90M Termination Fees"

Sony Corp has called off its proposed $10 billion merger with Zee Entertainment Enterprises, citing unmet merger conditions and seeking $90 million in termination fees. The two companies have been at odds over leadership of the combined entity, with Sony wanting its nominee to lead due to a regulatory investigation against Zee's proposed leader. Zee has refuted Sony's claims and plans to take legal action. The collapse of the merger is expected to have a negative impact on both companies, and comes amid market disruption and consolidation in the entertainment industry.