As per the report, the Japanese company is allegedly looking to cancel the deal due to a standoff involving Zee’s Chief Executive Officer Punit Goenka. The standoff has risen over whether Punit Goenka, who is founder Subhash Chandra's son, would lead the merged entity or not. Zee-Sony Merger Update: Sony Likely To Call Off USD 10 Billion Merger With Zee, Issue Termination Notice by January 20, Says Report.