If sources in the industry are to be believed, Zee News has secured exclusive rights to the full transcript of the explosive "Tehelka tapes" which has shaken the government of prime minister Atal Behari Vajpayee.

The media has been abuzz with reports that rival channels Star News and Aaj Tak from the India Today group were also in the bidding race but the rights were firmly with Zee, the sources confirmed.

Zee group corporate communication head Sainath Aiyar, however, refused to either deny or confirm whether Zee had the rights or not.

Aiyar was equally cagey about reports that the Zee Network had entered into a strategic equity relationship with Buffalo Networks wherein it was taking a 26 per cent equity stake in the independent media organisation. Tehelka is a division of Buffalo Networks.

Aiyar did admit that the due diligence process was currently on but said a final decision in this regard was still to be taken. He was unable to provide a time frame within which a deal might be reached.