Star India has won the TV broadcasting and digital rights of the Indian Premier League (IPL) for a five year period beginning 2018. Star India bagged the TV broadcasting rights for 16,347 crore, defeating Sony in the process. It's a huge blow for Sony which had broadcast the first 10 editions of the IPL.
Board of Control for Cricket in India (BCCI) conducted the IPL media rights auction today. Many top companies such as Facebook, Amazon, Twitter, Yahoo, Reliance Jio, STAR India, Sony Pictures, Discovery, Sky, British Telecom and ESPN Digital Media had shown interest in digital rights. But the main fight was between Sony Pictures and STAR India for the TV rights. Experts had anticipated the competition between Sony and Star to be tough.
The BCCI's remuneration from the bidding process was expected to be historic, according to BCCI Chief Executive Officer (CEO) Rahul Johri. "Monday's auction could produce historic numbers. While I am not in a position to predict numbers, our primary focus is to deliver a transparent and robust bidding process for each and every stakeholder," Johri had told PTI.
Here are all the live updates from the event taking place in Mumbai:
2:19 pm: Star India won global broadcasting and digital rights of the IPL till 2022 for a bid of Rs 16,347 crore.
1:35 pm: Viewers will have to tune into Star Sports for the next five years to watch the IPL. Star India has won both the broadcasting and digital rights of the IPL for a five year period beginning 2018. For the past 10 year, IPL was broadcast on Sony.
1:30 pm: Sony and Star are competing for TV broadcast rights of IPL in India IPL. BCCI will give the away the rights to the highest bidder between the two.
1:25 pm: The bids are for seven different categories: India television, India digital, US, Europe, the Middle East, Africa and rest of the world.
1:20 pm: There's lot of interest in the digital rights of the IPL, with many big players in the foray.
1:15 pm: No bids have reportedly been made from Amazon, ESPN digital, Yahoo, according to the Financial Express. Apparently, 14 out 24 have who had taken Invitation To Tender have turned up for the IPL media rights.
1:10 pm: The media rights are for a five-year period from 2018 to 2022. IPL Governing Council had followed the BCCI tender process for the auction.