'Star India' Wins Global Media Rights Of IPL For Next Five Years

| September 4 , 2017 , 14:52 IST

As the bid for the acquisition of television and digital media rights for IPL concludes, Star India has bagged the contract from 2018 to 2022 for a price of Rs 16,347.50 crore, taking it away from earlier acquirer Sony.

While 24 companies had picked the invitation to bid in the tender, only 14 of them turned up in the auction for broadcast and digital rights of the game in India and abroad for the next five years.

Global media giants such as Yahoo, Amazon and ESPN also dropped out of the bid leaving majorly Indian companies such as Times Internet and Reliance Jio in the lead.

While speculations were that Times Internet could sweep the acquisition digital rights, Star India proved them wrong with their stunning offer.

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Back in 2008, Sony Picture Network had won the media rights of IPL for 10 years at a price of 8200 crore. It was then handed over to Novi Digital for a time period of three years in 2015 for 302.2 crore. Mere months before the expiration of its last contract, the BCCI conducted the bid for the rights of game for the next five years.