Star seeks $940 million from Zee over failed cricket deal

Walt Disney's local unit Star India has sought $940 million in damages from Zee Entertainment Enterprises in the London arbitral court after the Punit Goenka-helmed company defaulted on payments for cricket broadcasting rights.

Star has also sought costs, expenses and applicable interest until full payment.

Zee has refuted Star's claims for damages, saying it will contest them.

"The arbitration is at its initial stage and the London tribunal is yet to determine if the company is liable in any manner," the Mumbai-listed broadcaster said in a regulatory statement.

Source: Times of India