Star India edged out Sony Pictures to secure the Indian Premier League’s media rights with a bid of Rs 16,347.50 crore. The bidding for various media rights of the cash-rich league was held in Mumbai for a five-year period from 2018-2022.
The winning bid will allow Star India to air content on their properties for a period of five years (2018-2022). The second highest bid was made by Sony, who bid Rs. 11,050 crores, for the rights. However, Sony’s bid was for the Indian region only as compared to Star’s bid which is global.
Important Takeaways from Above News-
- In 2008, Sony Pictures Network won the IPL media rights for a period of 10 years with a bid of Rs 8200 crore.
Source- The Indian Express