Star TV India has beaten the incumbent, Sony Pictures Networks to bag the Indian Premier League rights from 2018 for a five-year period.
Star TV acquired the global television (including India) and digital rights for a humongous Rs. 16,347.50 crore. Sony Pictures Networks was in second place with a bid of Rs. 11.050 crore but only for the India territory, while Star TV bid for global rights. Third highest bid was made by Facebook with Rs. 3.900 crore for digital rights.
Previously, Sony Pictures Networks had bid for the telecast rights for Rs. 8,200 crore in 2008 over a ten-year period.
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