Star India buys Indian cricket rights for USD 944 million
Star India has strengthened its hold on television and digital rights to cricket in India by retaining worldwide rights to Indian cricket for INR 6138 crore (USD 944 million) for the period 2018-23. They now hold the two most valuable broadcast rights in cricket, having bought the IPL rights for INR 16,347.5 crore (US$ 2.55 billion) in September 2017 for the period 2018-22.
Star’s winning bid was an increase of 59% from the previous cycle of rights, which were sold for INR 3851 crore (USD 750 million at the time) for the period 2012-18, also to Star. The rights cycle will commence from April 15 this year until March 31, 2023.
More to follow