admin
Even as it is caught in a legal battle with Sony, Zee Entertainment is facing another challenge from Star India which has initiated arbitration proceedings against it for alleged non-compliance with the terms of a $1.4-billion cricket broadcasting agreement between the companies. Star India has asked company to pay damages for non-compliance.
Reacting the development a spokesperson for Zee said, “The Company, based on its preliminary assessment and on legal advice received, disagrees with the averments made by Star India Pvt. Ltd. and will be filing an appropriate response to the Application, make counterclaims and undertake actions in accordance with the law.”
- Also Read: Zee Entertainment denies reports of financial irregularities amidst stock decline
On August 30, 2022, Zee Entertainment Enterprises Ltd (ZEEL) disclosed its entry into a strategic licensing agreement with Disney Star. The agreement pertained to the television broadcasting rights for the ICC Men’s and Under-19 global events, covering a span of four years.
However, Zee Entertainment Enterprises recently informed Disney Star that it does not want to go ahead with its $1.4 Bn TV sub-licensing deal for International Cricket Council (ICC) tournaments for the 2024-27 period. Zee Entertainment Enterprises had also alleged that Star India, a subsidiary of Walt Disney, breached the ICC TV rights agreement and demanded a refund of ₹68.54 crore paid under the deal.
