Is the Sony-Zee merger in danger? What went wrong …

The potential Sony-Zee merger, touted to be one of India’s largest media deals, is believed to be on the brink of total collapse. California-based Sony Pictures Entertainment has yet not agreed to the extension of the deadline, which expires on December 21. Zee, on its part, has not revealed as to why it needs more time. In its communication to the stock exchanges, the Subhash Chandra-founded company has simply sought more time to close the $10-billion mega deal.

So, why is this deal that has got all regulatory clearances still on tenterhooks? In a written response, Culver Max Media,