Disney-Zee $1.5B ICC TV rights deal faces uncertainty

The $1.5 billion International Cricket Council (ICC) TV rights deal between Disney Star and Zee Entertainment Enterprises hangs in the balance with the new media rights cycle set to kick off next month.

According to the Economic Times, the ICC TV deal, which was announced in August 2022, is yet to be concluded as Zee has not given the required bank guarantees to Disney Star.

In its FY23 annual report, Zee said that the acquisition of ICC TV rights is “subject to certain conditions precedent, including submitting financial commitments, guarantees, and ICC approval for sub-licensing to the firm, which is pending”.

The uncertain status of the ICC TV deal will be a key point of consideration during the due diligence and valuation exercises between Walt Disney and Reliance Industries (RIL) regarding the potential merger of Star India and Viacom18.

The ICC Under-19 Men’s Cricket World Cup 2024, which will be held in South Africa from January 19 to February 11, will be the first tournament under the new media rights cycle. Disney Star acquired the ICC TV and digital rights for India from 2024 to 2027 for $3 billion and sub-licensed the TV rights for the men’s and Under-19 global events to Zee while retaining the digital rights.

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“This initiative will empower subscribers to pay online and subscribe to the channels they want to watch and get it activated on their TV sets in real-time without any delay. Without needing to undertake any software development, LMOs can approach Mobiezy for their pre-built and pre-integrated solution that uses NXTDigital’s news APIs and can be up and running with their own mobile apps within just a few days.”

RU Ediriwira, Group CTO, NXTDigital Limited

“With the launch of Partnership for Growth 3.0 we intend to expand our network with 40 new NXTHUBs, each offering up to 650 live TV channels and broadband. Our efforts are focused on harnessing the convergence of technologies, developing robust apps and creating new business models that will help the overall ecosystem, delivering the best experience to our subscribers. We hope to achieve a stronger foothold in the rural regions of the country and grow our subscriber base.”

N.K. Rouse, COO, NXT Digital Ltd

“One of the key principles of the Hinduja Group is ‘Partnership for Growth’. After 2.0 saw the launch of HITS to connect LMOs in even the most remote locations through the only satellite-based cable TV platform in India; 3.0 focuses not just on strengthening the overall ecosystem we have built, but harnessing the convergence of technologies – to be delivered through a national network of NXTHUBs. Video and broadband are only the beginning of the digital highway of services that we have developed for roll-out backed by a robust suite of innovative apps developed by service providers exclusively for our LMOs and subscribers.”

Vynsley Fernandes, MD & CEO, NXTDigital Limited

“Wireline broadband is becoming ever more important not only in connecting homes across the country but also small to large enterprises-to the digital economy. The NXTHUBs will be the perfect point-of-presence to offer broadband services to cater to these consumer needs.”

Yugal Kishore Sharma CEO, ONEOTT Intertainment Limited

Amazing and grim battle for survival. Guess it will end up in Supreme Court. All that NCLT asked Zee to do was to file a reply to Invesco petition for a EGM. Now this is getting too serious. So far Invesco has been hammered for demanding an EGM. What is Zee upto? Ofcourse my lawyer community knows better!

Ashok Mansukhani, Corporate Law and Media Law Advocate at Ashokmansukhani Associates

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Disney-Zee $1.5B ICC TV rights deal faces uncertainty

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