The valuation of Disney Star could become an unusual victim of the aborted merger between Sony and Zee. Zee Entertainment Enterprises is disputing its obligations to honor a $1.5 billion sub-licensing deal for the International Cricket Council, which could lead to a $2 billion downgrade of Disney Star by Reliance, which is seeking a merger of Disney Star with its own media businesses.
Why it’s important: The failed Sony-Zee mega merger was bound to have significant fallout. Reliance will be closely monitoring the developments as the ICC TV contract was contingent on a successful merger. Moneycontrol