Zee said to miss $200 million cricket fee deadline to Disney due to ‘cash crunch’

Zee Entertainment Enterprises Ltd. has missed a deadline to pay $200 million to Walt Disney Co.’s India unit for TV rights of cricket matches, according to people familiar with the matter, as the firm tries to preserve cash ahead of a likely collapse of its mega merger with Sony Group Corp.

The Mumbai-based media firm didn’t pay the installment due early January citing a cash crunch, the people said, asking not to be named as the information is not public. Disney has sought explanation from Zee on why the payment was skipped, they said, adding the tranche was part of the over $1.4 billion Zee agreed to pay for the license agreement signed in August 2022.