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Updated January 25th, 2024 at 15:49 IST

Zee backs off from $1.4 billion cricket TV rights deal with Disney

In August, Zee announced a strategic license agreement with Disney for this purpose, with the US firm retaining streaming rights.

Business Desk
Zee
Zee's shares dropped as much as 30 per cent to hit fresh 52-week ow of Rs 162.25. | Image:Republic
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Zee cricket TV rights deal: Zee Entertainment has reportedly reversed its decision on the $1.4 billion cricket TV rights deal with Walt Disney, according to sources familiar with the matter. The company has communicated to Disney its intention not to proceed with the agreement, wherein Zee had initially planned to acquire certain International Cricket Council TV broadcast rights for a four-year period starting in 2024. 

In August, Zee announced a strategic license agreement with Disney for this purpose, with the US firm retaining streaming rights. Despite requests for comment, Zee has remained silent on the matter, and Disney has chosen not to provide a statement. This development raises questions about the future trajectory of cricket broadcasting rights in the Indian market.

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(With Reuters inputs)

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Published January 25th, 2024 at 15:49 IST

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