IPL Media Rights Auction 2018: Star India bags media and broadcast rights with a massive Rs 16,347 cr bid

By: | Updated: September 4, 2017 3:29 PM

IPL Auction 2018: Novi Digital Entertainment Pvt Ltd, a wholly-owned subsidiary of Star India Pvt Ltd, has secured the the Indian Premier League (IPL) media and broadcasting rights for a massive Rs 16,347 crore.

IPL Media Rights Auction, Start India gets IPL media rights, Novi Digital Entertainment, Star India Pvt Ltd, Indian Premier League, media rights for IPL, broadcasting rights for IPL, ESPN Digital Media, Discovery, Sony, IPL media right bidStar defeated as many as 23 rival companies which had bid for the broadcasting and digital rights in the Indian subcontinent and global markets. (Image: PTI)

IPL Auction 2018: Novi Digital Entertainment Pvt Ltd, a wholly-owned subsidiary of Star India Pvt Ltd, has secured the the Indian Premier League (IPL) media and broadcasting rights for a massive Rs 16,347 crore. Star defeated as many as 23 rival companies which had bid for the broadcasting and digital rights in the Indian subcontinent and global markets for the coming five years. According to a report by Cricbuzz.com, names such as ESPN Digital Media, Discovery, Gulf DTH, Sky Uk Ltd, Amazon, Media India, BTG Legal Services, Taj TV, BTPLC, Twitter, Group M and others were in the fray.

In 2008, the media rights were sold to Sony Pictures Network for Rs 8,200 cr for a period of 10 years. The global digital rights of IPL were handed over to Novi Digital (three years) in 2015 for Rs 302.2 crore.

According to reports, after the shortlisting procedure, BCCI found only Sony and Star are eligible for TV broadcast rights of IPL. Earlier in the day, BCCI CEO Rahul Johri had said, “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.”

“The IPL is one of the biggest cricketing properties 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,” Johri had said.

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