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Zee unaware of any legal action being considered by Disney
In an exchange filing it clarified about reports of Disney Star considering legal action over ICC rights deal.
Zee Entertainment Enterprises (ZEEL) has officially clarified to the stock exchanges that it lacks awareness about the potential legal action by Disney Star for backing out from the $1.4-billion ICC TV rights deal which is mentioned in some media reports.
On January 29, the stock exchange requested clarification from the company in relation to the media reports.
In an exchange filing, ZEEL stated, "We would like to clarify that the Company is not aware of, and cannot comment on, Star India's (Disney Star) intentions or next steps with respect to the strategic license agreement entered between the Company and Disney Star. It appears that the captioned news item mentions Disney Star’s internal discussions/plans, which the Company cannot remark on."
It also mentions, "We would also like to state that the Company has always complied with its obligations under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and will continue to make disclosures in accordance with the same."