In August 2022, Zee Entertainment Enterprises Ltd. entered an Alliance Agreement with Star India for the sub-license of TV broadcasting rights for ICC Men’s and Under 19 international matches from 2024 to 2027.
Star India, a subsidiary of Disney Star, has initiated arbitration proceedings against Zee Entertainment Enterprises in the London Court of International Arbitration concerning the sub-licensing of TV broadcasting rights for ICC international matches from 2024 to 2027.
According to a regulatory filing by Zee Entertainment Enterprises Ltd., Star India has sought specific performance of the Alliance Agreement or compensation for the $1.4 billion deal. The exact damages are yet to be determined.
Zee Entertainment Enterprises Ltd. has stated that it disagrees with the claims made by Star India based on preliminary assessments and legal advice received as per The Telegraph.
The company plans to file an appropriate response, make counterclaims, and take necessary actions in response to the arbitration proceedings.
In August 2022, Zee Entertainment Enterprises Ltd. entered an Alliance Agreement with Star India for the sub-license of TV broadcasting rights for ICC Men’s and Under 19 international matches from 2024 to 2027. However, Zee reportedly missed the first instalment of $203.56 million.
Star India alleges that Zee Entertainment Enterprises Ltd. is in non-compliance with the terms of the Alliance Agreement executed in August 2022. The agreement outlined the terms for granting sub-license rights for ICC men’s cricket events from 2024 to 2027.
This legal action marks the second major arbitration against Zee Entertainment Enterprises Ltd. in the last three months. Additionally, Zee Entertainment’s president and group chief technology officer, Nitin Mittal, has resigned amidst strategic changes in the technology and data vertical, as the company streamlines its operations.
