Disney Seeking $940 Million From India’s Zee Over Failed Cricket Rights Deal
variety.comPatrick Frater Asia Bureau Chief Disney India (previously Disney Star) is seeking $940 million of damages from Indian media conglomerate Zee Entertainment Enterprises Limited, it was revealed on Wednesday.
The claim relates to a cricket rights deal that collapsed in January this year. After Disney won a 2022 bid for TV and digital rights to men’s and women’s cricket events conducted through the International Cricket Council, and spanning the four years 2024-2027, the television broadcast rights to ICC men’s and under-19 tournaments were quickly sub-licensed to ZEEL for a fee of $1.4 billion.
However, since January it has become clear that the deal was not going forward. Reuters reported at the time that ZEEL had missed its first $200 million stage payment and did not have the resources to go ahead.
The companies have since begun arbitration at the London Court of International Arbitration. According to a regulatory filing by ZEEL, Disney has claimed that the agreement has now been validly terminated and that Disney is owed $940 million of damages, plus costs, expenses and interest.
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