Sony Group Corp. has officially notified Zee Entertainment Enterprises Ltd. of its decision to call off the merger between its India unit and the media network. Sony cited unmet conditions of the merger agreement as the reason for termination. The move follows a stalemate over the leadership dispute involving Zee’s CEO Punit Goenka, currently under investigation by India’s capital markets regulator. The termination leaves Zee vulnerable to competition as rivals, such as Reliance Industries and Walt Disney, continue talks to merge their India media operations. The collapsed deal would have created a $10 billion media giant capable of competing with global streaming giants like Netflix and Amazon.