afaqs! news bureau

Star India initiates arbitration against Zee over non-compliance of ICC TV rights deal

Zee denies the allegations made by Star India and will respond accordingly.

Star India has filed arbitration proceedings against Zee Entertainment for failing to adhere to August 2022 agreement, in which Zee was supposed to sub-license the ICC TV rights until 2027.

In response, Zee stated that it disagrees with the allegations made by Star in its application and will provide a necessary response accordingly, as mentioned in a stock exchange filing.

The proceedings have been initiated under the Arbitration Rules of the London Court of International Arbitration. Star has refrained from specifying a claim amount in its application.

As per the filing, "Star India has claimed that the Company (ZEE) is in non-compliance with the terms of the Alliance Agreement dated 26 August 2022 which had been executed between Star and the Company for setting out the basis on which Star would be willing to grant the sub-license rights for the ICC men’s cricket events from 2024 to 2027. Star has sought specific performance of the Alliance Agreement (or alternatively, to pay damages, which are yet to be determined)."

Zee further added, "The Company, based on its preliminary assessment of the Application, and on legal advice received, disagrees with the averments made by Star in the Application and will be filing appropriate response to the said Application, make counterclaims and undertake such actions, as may be required."

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