Zee makes initial payment of $ 20 million to BCCI

MUMBAI / NEW DELHI: Challenges in the court notwithstanding, Zee Telefilms is not letting any such distractions come in the way as it moves ahead full steam with its plans for the mother of all cricket acquisitions - India cricket telecast rights.

Honouring one of the conditions set by the Board for Cricket Control in India (BCCI) when it awarded Zee the rights for the next four years for a whopping $ 308 million, Subhash Chandra's network made an initial payment of $20 million this morning.

According to a spokesperson for Essel Group, the parent entity for Zee Telefilms and Chandra's other companies, it has also been conveyed to the BCCI that a bank guarantee worth $ 75 million is also ready as per conditions. "As and when the BCCI indicates, the bank guarantee would be furnished, which would also facilitate the signing of the contract simultaneously," the spokesperson added.

The other condition Zee had to fulfil when it was awarded the contract was to provide a bank guarantee. The board has also said it expects Zee to enter into an agreement with Prasar Bharati for the live feed of the cricket matches


Meanwhile, the case filed yesterday by ESPN Star Sports in the Bombay High Court challenging BCCI's decision to award the rights to the Zee Network has been adjourned to Thursday.

A division bench of Chief Justice DC Bhandari and Justice DY Chandrachud gave this decision when the ESS petition came up for hearing before them.

Petitioner ESS, incidentally, has also made the Indian government a party to the case.

Latest Reads
Star Bharat leads Hindi GEC (U+R) in week 2 of BARC ratings

MUMBAI: Star Bharat emerged as the leader in the Hindi GEC (U+R) genre dethroning Zee Anmol according to Broadcast Audience Research Council (BARC) all India data for week 2 of 2018.

Television TV Channels Viewership
BARC week 2: Aaj Tak leads Hindi News in all three markets

MUMBAI: Republic TV continues its leading streak in the second week of the year as well in BARC All India ratings. News Nation stays in the top five chart in week 2 of 2018 in Hindi News Rural market. Aaj Tak tops the chart again in Hindi News Urban market.

Television TV Channels Viewership
Dsport acquires India rights of tri-nation tournament in SL

Discovery’s sports channel Dsport has acquired the exclusive India broadcast rights of Nidahas Trophy 2018, a tri-nation international T20 tournament involving India, Sri Lanka and Bangladesh. The transaction was facilitated by Lagardère Sports, the global marketing consultant of Sri Lanka Cricket...

Television TV Channels Sports
Pittie Group launches news portal

Pittie Group has launched LatestLY its new portal for trending stories across categories like world news, politics, sports, entertainment, lifestyle,technology, automobile etc. It is being developed as the go-to platform for anybody wanting a complete understanding of trending stories.

Television TV Channels News Broadcasting
Catch Rekha's stellar performance in 'Biwi Ho Toh Aisi' on Sony MAX2

MUMBAI: Rekha’s fans are in for a sweet surprise this week as India’s iconic Hindi movie channel from Sony Pictures Networks, Sony MAX2 is all set to air classic movie Biwi Ho Toh Aisi. A light-hearted family drama stars Bollywood legends Farooq Sheikh and Rekha in lead roles and marks the debut...

Television TV Channels GECs
The seasonal show saga on Indian GECs

MUMBAI: Daily soap operas, with an infinite number of episodes, is the unique feature of India’s TV entertainment offering. From the era of a single national broadcaster to today where you can pick from a plethora of general entertainment channels (GECs), times have surely changed. What is slowly...

Television TV Channels GECs
Star ushers in IPL's new era with a bang

Star India is all set to reinvent the Vivo Indian Premier League (IPL) 2018 by increasing fan-engagement levels and bringing the sporting spectacle even closer to cricket fans across the country. The broadcaster’s press conference in Delhi today started with Sophia, a robot, in conversation with...

Television TV Channels Sports
Zeel numbers up on higher ad revenue in third quarter

The Subhash Chandra led Indian television network Zee Entertainment Enterprises Limited reported 11.5 percent and 28.3 percent increase in consolidated total revenue and profit after tax (PAT) respectively for the quarter ended 31 December 2017 (Q3-18, quarter under review) as compared to the...

Television TV Channels GECs
Ramdev wants telecast fees waived off for devotional channels

Baba Ramdev today took a shot at the government for imposing high tax on telecasting devotional TV channels.

Television TV Channels People

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories