Acting on expected lines, Zee Entertainment Enterprises Ltd has decided not to go ahead with its $1.4 billion deal with Disney Star for the TV broadcast right for ICC cricket matches, industry sources have confirmed to PTI.
In was in August 2022 that ZEE had entering into a sublicensing agreement with Disney Star for television broadcasting rights of the ICC Men’s and Under-19 global events for a period of four years.
While Disney Star will continue to exclusively stream all ICC tournaments through its digital platform Disney+ Hotstar, a joint statement had said at the time.
As per the agreement, ZEEL was supposed to have exclusive television rights for ICC men’s events, including the ICC Men’s T20 World Cup, which will be played in 2024 (in West Indies and the US) and 2026, ICC Men’s Champions Trophy 2025, and the ICC Men’s Cricket World Cup 2027, along with key ICC U-19 events.
ZEE’s decision is a fallout from Sony Corporation on Monday announcing the termination of its $10 billion merger agreement with the Indian media major, first announced in 2021, while seeking $90 million for breach of conditions besides initiating arbitration.
