Zee Entertainment Enterprises Limited (ZEEL) on August 30 announced that they have entered into a strategic agreement with Disney Star by way of which it will gain licensing of the television broadcasting rights of the International Cricket Council's (ICC) Men's and Under 19 (U-19) global events for a period of four years.
The development comes just days after Disney Star was announced the bid winner of broadcast rights of all ICC events for four years—2024-27—for the Indian market. As per PTI reports, Disney Star is paying around $3 billion for the rights.
Disney Star will continue to be the exclusive home for streaming of all ICC tournaments through its digital platform - Disney+ Hotstar. ICC has in-principle approved this arrangement, the company said in an official statement.
"This association enables ZEE to be the exclusive television rights holder of ICC men's events, including the coveted ICC Men's T2o World Cup (2024, 2026), ICC Men's Champions Trophy (2025), and the ICC Men's Cricket World Cup (2027) along with key ICC U-19 events," it added.
Commenting on the agreement, Punit Goenka, MD & CEO, ZEEL, said, "This is a first-of-its-kind partnership in the Indian media & entertainment landscape, and this association with Disney Star reflects our sharp, strategic vision for the sports business in India.
"As a one-stop television destination for ICC men's cricket events until 2027, ZEE will leverage the strength of its network to offer a compelling experience for its viewers and a great return on investment for its advertisers... We look forward to working with ICC and Disney Star, to enable this strategic offering for our television viewers in India."
Shares of ZEEL closed 2.31 percent higher at Rs 256.90 apiece on BSE on August 30.
Apart from bagging media rights for all ICC cricket in India, Disney Star's portfolio also includes the television rights for IPL (2023-27), television and digital rights for Cricket Australia (2023-2030), television and digital BCCI rights (2023) and television and digital rights for Cricket South Africa (end of 2023-2024).