Star India wins IPL media rights for 16347.5 crore for next five years

Star India won the  IPL media rights for TV and digital broadcast worth Rs 16,347.50 crore with a single consolidated bid worldwide.  It pipped Sony to  acquire the rights from 2018 to 2022.

As many as 24 comonies ha picked uo the invitation to tender. However, out of all only 14 cpuld turn up with their respective bids.

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Star India pvt ltd, the broadcast rights holders of Indian cricket and the International Cricket Council (ICC), walked away with the sport’s most lucrative property, the Indian Premier League (IPL), after submitting a consolidated winning bid of Rs 16,347.5 crore (approx US$2.5b) on Monday .

Sony Pictures Network (SPN), which held the broadcast rights of the IPL for the last 10 years, submitted a bid of Rs 11,050 crore for the Indian subcontinent television rights. Social network giant Facebook‘s Rs 3,900 crore bid for digital rights turned out to be the day’s surprise.

After a long technical evaluation, it was announced by BCCI CEO Rahul Johri that for broadcast rights, Star and Sony had emerged as eligible candidates.

IPL is definetly a powerful property. Uday Shankar, chairman of Star India, commented that . “We would remain committed to ensure the growth of sports in this country continues to be driven by the power of cricket.”

So it thumps up for Star India for bagging such honour.

 

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