Sony Group Corp. has reportedly withdrawn its agreement to merge its India operations with Zee Entertainment Enterprises Ltd. The Japanese entertainment firm made multiple filings to India’s National Company Law Tribunal to pull out of the merger pact with Zee. This marks the final step in scrapping the two-year-old plan that aimed to create a $10 billion media giant. The termination notice was sent to Zee on Jan. 22, with Sony citing Zee’s failure to meet the merger agreement conditions. The deal collapse leaves both companies more vulnerable, especially as rivals like Reliance Industries Ltd. and Walt Disney Co. announced a merger of their India media businesses, creating an $8.5 billion entity.