Star India has terminated its $1.5 billion TV rights deal with ZEE Entertainment Enterprises Limited for the International Cricket Council (ICC) events. Disney, the owner of Star India, is seeking damages through arbitration proceedings that have yet to be quantified.The arbitration was initiated by Star against ZEE before the London Court of International Arbitration (LCIA) on 14th March.The partnership between Star India and ZEE, announced in August 2022, was intended to cover ICC Men’s T20 World Cups and the ICC Men’s Cricket World Cup. However, Star India has accused ZEE of breaching the Alliance Agreement by failing to pay the first instalment of the rights fee, amounting to $203.56 million, and additional payments for bank guarantee commissions and deposit interest totaling Rs 17 crore. Star also cited unmet financial commitments, including the furnishing of corporate guarantees.In its disclosure, ZEE contended that Star had not complied with the terms of the Alliance Agreement, alleging that Star failed to obtain the necessary approvals and execute required documentation. Based on legal advice, ZEE’s management believes that Star has not acted in accordance with the agreement.
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