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MUMBAI:
Star India and Neo Sports Broadcast have reached an amicable
settlement and concluded all legal proceedings between them
arising from the termination of the Star India-Neo Sports
distribution agreement.
The
Star India-Neo Sports distribution agreement was signed in
2006. As per the deal, Star India was to distribute the two
Neo channels.
However
differences cropped up and in June last year the deal was
called off.
Nimbus
dragged Star to a Singapore court seeking damages reportedly
to the tune of Rs 12 billion. Subsequent to that Neo decided
to do distribution on its own.
Neither
Star nor Neo commented on the terms of the settlement. But
a senior Neo executive ruled out any indication of a "re-entry
into a distribution arrangement with Star" after this
settlement.
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