Zee refutes Star's $940 million claim for lapse of cricket broadcasting deal

Zee Entertainment on Wednesday refuted Disney-owned Star India's claim of damages worth $940 million for the termination of a cricket broadcasting agreement.

Star India is seeking the damages in the London Court of International Arbitration (LCIA).

"The arbitration is at its initial stage and the LCIA Arbitral Tribunal is yet to determine if the company is liable in any manner," Zee said in a statement.

In January, Zee quit the $1.4 billion deal with Star India, under which the latter was to license television broadcasting rights for the International Cricket Council's (ICC) events to Zee for four years.

Zee believes that Star India breached the agreement and had sought the repayment of Rs 68.54 crore, according to its December-quarter earnings report.