Star India Seeks $940M Damages from ZEEL Over ICC Broadcast Rights Dispute
Zee Entertainment Enterprises Ltd (ZEEL) faces a $940 million claim from Star India in the London Court of International Arbitration for non-compliance with a contract regarding ICC international cricket matches broadcast rights. ZEEL denies all claims, asserting the contract was wrongfully terminated by Star India.
- Country:
- India
Zee Entertainment Enterprises Ltd on Wednesday declared that Star India is seeking USD 940 million in damages in an ongoing case at the London Court of International Arbitration (LCIA). The dispute revolves around the non-compliance of a sub-licence agreement for TV broadcasting rights of ICC international matches from 2024 to 2027.
In its regulatory filing, ZEEL firmly refuted Star India's claims and vowed to contest the 'unfounded' claims. Star India had filed its case on September 16, 2024, seeking to validate the termination of the alliance agreement with ZEEL.
The LCIA has not yet determined ZEEL's liability. Star India's move follows arbitration proceedings initiated in March over ZEEL's missed payment of USD 203.56 million, which Star India claims breached their $1.4 billion contract.
(With inputs from agencies.)
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