New Delhi CNN —
A dramatic acquisition saga in one of the world’s fastest growing media industries is headed for a bitter ending.
Sony Group (SONY) has called off the merger between its India unit and Mumbai-based Zee Entertainment, the Japanese company said on Monday.
The deal was announced two years ago and would have created a $10 billion media entity in India, with a war chest to take on homegrown rivals as well as global streaming giants such as Netflix (NFLX) and Amazon (AMZN), according to analysts.
Sony’s move to end talks comes
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