(Cricket News) Sony Pictures and Zee Entertainment Enterprises Limited, two of the biggest broadcasting companies in India, have canceled their proposed merger deal, which was estimated to be worth US$10 billion.

The real reason for the deal’s cancellation is that the two years of negotiations between the merging parties produced an unsatisfactory result; as a result, the output company was supposed to be the nation’s largest television network, but that plan ultimately fell through. Sony officially announced the termination of the agreement by sending a notice to Zee and Sony Pictures Networks India Private Limited, the company’s Indian subsidiary.

The statement, which was released shortly after the announcement, stated that while both parties had discussed numerous proposals, none of them was completely satisfied with the discussions within the allotted time, which ultimately resulted in the merger being rejected.

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