"We will invest Rs 100-150 crore. The uplinking would be done from New Delhi," he said adding that the channel would be launched on the 12th anniversary of the group.
Zee Group chairman Subhash Chandra said the group did not get the schedule of cricket to be played until Saturday and therefore could not share the schedule of payments with Board of Control for Cricket in India (BCCI) on Sunday.
"Considering all aspects, we have accepted the new offer ensuring that rights for the coveted series lie with India's largest media and entertainment conglomerate," he said.
Zee has been awarded the telecast rights for the cricket matches to be held in the country for next four years by the BCCI for a consideration of $308 million.