Zee issues clarification on reports of Disney Star mulling legal action for backing out of ICC rights deal

The Zee Entertainment Enterprises Limited (ZEEL) on Tuesday issued clarification on news reports stating that Disney Star is mulling legal action for backing out of ICC rights deal.

In an exchanges filing, the company said that it is unaware of the news and cannot comment on Disney Star’s further moves with respect to the strategic license agreement between the two entities.

“We would like to clarify that the Company is not aware of, and cannot comment on, Star India Private Limited’s (“Disney Star”) intentions or next steps with respect to the strategic license agreement entered between the Company and Disney Star. It appears that the captioned news item mentions Disney Star’s internal discussions/ plans, which the Company cannot remark on,” said ZEEL.

It (ZEEL) further stated that the company has always complied with its obligations under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and will continue to make disclosures in accordance with the same.