Zee Entertainment Rejects Star India's $940 Million Damages Claim in ICC TV Rights Dispute

Zee Entertainment Limited (ZEEL) has disputed Star India's claims, which include damages totaling $940 million (around Rs 8,000 crore).

On September 16, Star India filed a 'statement of case' with the London Court of International Arbitration (LCIA), announcing the termination of their alliance agreement and seeking damages linked to the now-terminated ICC TV rights deal.

Denying these allegations, Zee stated that the arbitration process is still in its early stages and that it "strongly contests all unfounded claims" and will defend its position based on merit.

It added, “The company (ZEEL) categorically refutes all claims and assertions made by Star including its claims for damages. The arbitration is at its initial stage and the LCIA Arbitral Tribunal is yet to determine if the Company is liable in any manner. The Company will, on merits, strongly contest all unfounded claims by Star and reserves all its rights.”

Earlier in March, Star India approached the LCIA after Zee failed to meet the terms of an August 26, 2022 agreement, under which Star was to license television broadcasting rights for ICC tournaments to Zee for the period of 2024 to 2027. Zee withdrew from the $1.4 billion deal after missing the first $200 million payment, citing an inability to pay.

This week, Star India officially terminated the agreement with Zee, six months after the initial dispute.