Star India has won the Indian Premier League (IPL) global media rights for the years 2018-2022. The leading media company has acquired the IPL rights with a consolidated bid of Rs.16,347.5 crore.
The auction was held for the two major IPL rights -television broadcasting and digital rights. 24 Media companies have participated in the bid which includes Sony Pictures Network, Facebook, Amazon, and Twitter.
About 14 companies were in the fray today during the final bid, Big names like Amazon, ESPN Digital Media, Twitter, and Discovery refrain from entering the bidding process for the Indian Premier League media rights.
While, Sony Pictures bid Rs.11,050 crores for IPL rights for Indian broadcast, Star India bid Rs.6,196.94 crores for India broadcast rights. However, Sony didn’t bid for other rights, except for the one of Rs. 84.50 crore, while Star India bid for all other IPL rights and won due to its consolidated bid.
IPL media rights are divided into seven different categories- Indian television rights, Indian digital rights, the US, Europe, Africa, West Asia and rest of the world.
“I would like to convey my delight at finally being able to bring IPL to the rightful home,” said Uday Shankar, Star India chairman.
Lalit Kumar Modi tweeted @LalitKModi “So #StarSports wins global rights for @IPL I would’ve hoped a larger figure Deserved greater value after 10yrs of success”.