IPL media rights auction Live: Star India defeats Sony, clinches deal for whopping Rs 16,347 crore

By: | Updated: September 4, 2017 3:42 PM

IPL media rights auction 2018: It's a big day today! The bidding for various media rights auction of the super cash-rich IPL for a five-year period from 2018-2022 is taking place in Mumbai on Monday.

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IPL Media Rights Auction LIVE: Star India has bagged broadcasting and digital rights of the cash-rich T-20 tournament defeating Sony. So far, Sony used to broadcast the Indian Premier League. The 11th edition will be aired on channels across the Star Network.

Here are all the LIVE updates of  IPL Media Rights Auction 2018:-

3: 40 PM: “India, cricket and IPL have changed dramatically since its inception (in 2008) and this bid is a reflection of that,” Star CEO Uday Shankar told media persons.

1:58 PM: Star India has won lucrative IPL media rights for next 5 years with a bid of Rs. 16347.50 Crore.

1:54 PM: Take a look at final figures for IPL Media Rights for the period from 2018-2022.

1:40 PM: Star has managed to bag IPL broadcasting rights for a whopping Rs 16,347 crore, ANI reported.

1:12 PM: BCCI has found Sony and Star eligible for TV broadcast rights in India for IPL; SuperSport, YuppTV, Econet, OSN eligible for world broadcast.

1:10 PM: BCCI finds Airtel, Jio, Times Network and Facebook eligible for digital rights of IPL. Final bid to open shortly.

12:47 PM: After shortlisting BCCI finds only Sony and Star are eligible for TV broadcast rights of IPL, according to report.

11:57 AM Earlier, 24 have taken  Invitation To Tender (ITT). But, now only 14 have turned up for the IPL media rights. Noteworthy, no bids from Amazon, ESPN digital, Yahoo.

11;52 AM Reportedly,  the bids were invited for seven categories – India television, India digital, US, Europe, the Middle East, Africa and rest of the world.

11:48 AM There could be a possibility that some of the major players may get into a consortium (association of companies) to place bid for the global rights.

11:39 AM BCCI CEO Rahul Johri agreed that digital rights could throw up interesting numbers.

“You have to understand digital market is growing very rapidly. The increase in bandwidth and connectivity for all the major digital players have also helped. The IPL is a catalyst for the growth of their business,” said Rahul Johri.

11:39 AM BCCI CEO Rahul Johri, SonyTV and Jio teams at the IPL Media Rights Auction event

11:33 AM The digital rights market for Indian sub-continent could see a two-way battle between Reliance Jio Digital Services, and Airtel.

11:30 AM: “The IPL is one of the biggest cricketing property globally. That the best companies in the global market have shown interest is a testimony to the value that it brings in for the investors,” Rahul Johri had said.

11:29 AM 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 crore.

11:28 AM There is also rest of the world media rights on offer which includes key international markets like the Middle East, Africa, Europe, USA, Australia and New Zealand.

11:26 AM The rights have been segregated into two categories — broadcast and digital (internet and mobile) rights.

The rights on offer are Indian sub-continental TV rights, which is the most coveted along with emerging Indian sub- continent digital rights.

11:20 PM “The IPL Media Rights tender process will resume shortly after the technical evaluation,” BCCI tweeted.

11:16 AM The Facebook team at IPL Media Rights tender process.

11:05 PM “We are extremely grateful to the Honourable Supreme Court and the Committee of Administrators (COA) for having faith in our existing system,” says BCCI Chief Executive Officer (CEO) Rahul Johri.

11 PM “The IPL Media Rights Tender Process is about to start. Catch all the action live on https://bcci.tv,” IPL tweeted.

10:50 PM The rights have been segregated in two categories — broadcast and digital (internet and mobile) rights

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