More than two years after announcing a bold $10 billion merger of its TV and streaming businesses in India with local giant Zee Entertainment, Sony Group said Monday that it is officially abandoning the deal.

“After more than two years of negotiations, we are extremely disappointed that closing conditions to the merger were not satisfied by the end date,” Sony said in a statement Monday from its offices in India. “Although we engaged in good faith discussions to extend the end date under the merger cooperation agreement, we were unable to agree upon an extension by the January 21 deadline.”

It added: “We remain committed to growing our presence in this vibrant and fast-growing market and delivering world-class entertainment to Indian audiences.”

Although Sony did not specify on Monday the conditions of the merger that went unfulfilled, a disagreement between the two companies over who would lead the combined entity spilled into public view in recent months.