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21st Century Fox executive chairman Lachlan Murdoch has said that the company’s India unit will hit the $1 bn EBITDA target by calendar year 2020 despite the expensive bid for the IPL media rights.
After Star’s record bid of Rs 16,347.5o cr, ad rates for IPL could see a surge. Viewers may have to pay more. Digital value will see a boost.
With Star bagging the 5-year IPL media rights for a whopping Rs 16,347.5 cr, Sun TV Network will stand to gain materially as it owns Sunrisers Hyderabad IPL team. BCCI shares revenues from media rights with the franchises.
Star has won the IPL media rights with a consolidated bid of Rs 16,347.5 crore. The broadcaster will thus get the 5-year TV and digital rights for India and the rest of the world.
BCCI can go ahead with its existing method of granting media rights for the IPL through a bidding process, as the Supreme Court has dismissed BJP MP Subramanian Swamy’s plea to direct the BCCI to award media rights through e-auction.
IPL media rights likely to get deferred as SC asks CoA to file affidavit clarifying stand on bidding process
The IPL media rights auction process is likely to get deferred as the SC has directed the CoA to clarify its stand on the bidding process for the IPL media rights.
IPL TV rights for IPL could fetch BCCI $1.8 bn, according to an estimate by Duff & Phelps. The internet and mobile rights could go for $210 mn.
In a letter to I&B minister Smriti Irani, CCI and BCCI, Dish TV CMD Jawahar Goel has hit out at Star India for trying to create a monopoly in sports broadcasting that is set to hurt not only distribution platforms such as DTH and cable TV but also consumers. He wants Star to be kept out of the IPL rights as it will lead to an absolute monopoly in cricket broadcasting.
Several potential bidders of the upcoming IPL media rights prefer e-auction to determine the winners while BCCI officials feel that the current system of traditional sealed tender would enable the cricket board to earn maximum revenue.