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Star India incurs Rs 12,548 crore loss due to onerous ICC contract provision

Nov 13, 2024•over 1 year ago

Contract Type

contract

MumbaiMedia And Entertainment

Description

Star India incurred a standalone net loss of Rs 12,548 crore for the financial year ending March 31, attributed to a provision of Rs 12,319 crore for an onerous contract stemming from the International Cricket Council (ICC) media rights deal. The company acquired the ICC TV and digital rights for $3 billion for a four-year period till 2027, and sub-licensed the TV rights to Zee Entertainment.

Company Information

Company

Disney Star

Location

Mumbai, Maharashtra, India

About

Disney Star is a subsidiary of The Walt Disney Company, focusing on television channels in India. It includes a range of popular general entertainment channels, sports channels, and the leading OTT platform, Disney+ Hotstar. Disney Star offers extensive content across multiple genres, appealing to a wide audience. The company is recognized for its significant role in the Indian entertainment landscape.

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