Star bags India's rights for Rs 6k cr
Mumbai: Broadcasting giant Star India today completed its virtual monopoly over Indian cricket by bagging the media rights of the national team's home series as well as domestic cricket for the next five years by shelling out a staggering Rs 6138.1 crore (USD 944 million approx).
After an intense bidding war spread over three days, Star pipped Sony and Reliance Jio for the Global Consolidated Rights (GCR) starting from April 2018 to March 2023. It was for the first time that BCCI staged an e-auction to sell the home media rights.
Star had also won the IPL rights for a record Rs 16,347 crore (USD 2.55 billion) last year. They also own the rights for all ICC tournaments (men's and women's 50-over World Cup, World T20).
The GCR comprise TV broadcast rights as well as digital rights for the Indian sub continent as well as the Rest of the World (RoW).
On the first day, the bidding ended at Rs 4442 crore while yesterday, it breached the Rs 6000 crore mark.