Star India wins rights
7 April, 2018, 12:00 am
Star India has grabbed the global television and digital rights for cricket in India for the next five years with a $1.3 billion bid to complete their stranglehold on the coverage of the game in its commercial home.
“Star India bags BCCI India International and Domestic media rights for INR 6138.1 crore ($F1.93b) for the next five years,” the Indian cricket board (BCCI) tweeted at the end of the three-day e-bidding, a first in cricket.
The highest bid fell short of the $US1b ($F2.04b) mark but means the broadcasters will pay about $13 million for every international match in the 2018-2023 period.
Six companies, including Facebook and Google, initially entered the fray to bid for 102 matches in India.
After scrutiny, Star India Private Ltd, Reliance Industries Ltd, and Sony Pictures Networks India Private Ltd were found eligible to submit online financial bids.