Sony called off the merger between its India unit and Zee Entertainment on Monday, ending a two-year acquisition deliberation that would have created a $10 billion media powerhouse in the South Asian market. Sony said in a statement that it has sent a termination letter to Zee after the Indian firm failed to meet the conditions, despite a 30-day extension. Sony said it was “extremely disappointed” that the Indian firm failed to do its part for the deal. Prospects of the deal going through result...