Star India wins IPL media rights for next five years
New Delhi: Star India who emerged as the highest bidder in the Indian Premier League (IPL) media rights auction for the next five years. Sony had bid for 11,050 cr in comparison to Star who had submitted a 16,347.5 cr bid.
The bidding for various media rights of the cash-rich league was held in Mumbai for a five-year period from 2018-2022.
— IndianPremierLeague (@IPL) September 4, 2017
The rights on offer were Indian sub-continental TV rights, which is the most coveted along with emerging Indian sub-continent digital rights.
A total of 24 companies had picked up the Invitation to Tender (ITT) to bid for the broadcast and digital rights in the Indian subcontinent and global markets for the next five years. However, only 14 of the 24 names turned up with their respective bids, which meant that there was no participation by the likes of Yahoo, Amazon and ESPN digital.
In 2008, Sony Pictures Network won the IPL media rights for a period of 10 years with a bid of Rs 8200 crore. The global digital rights of IPL for a period of three years was awarded to Novi Digital in 2015 for 302.2 crores.