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News Corp brings ESPN Software India (ESI), the India arm of ESS, under Star India while the rest of Asia business will be looked after by Fox International Channels (FIC) Asia.
Neo seals the broadcast rights for the 2014 edition of Asia Cup; also secures the first right to renew for the next three Asia Cup tournaments leading up to 2020.
ESS bid a staggering $145 million to secure the telecast till 2016 while MSM had put in an equally competitive bid of $125 million.
Taj TV will showcase 253 days of international cricket as part of the new rights deal which includes two India series in 2016 and 2019.
After charting the sports market for 16 years, ESPN will bow out of Asia, courtesy of News Corp buying 50% stake in ESS.
The value of ECB rights see a huge jump from $80 million that ESS had committed in 2007 for securing the rights.
Changing its all-cricket focus, Neo Cricket will emerge as Neo Prime to cater to mass sports including football.
Star India outran Multi Screen Media by Rs 1.51 billion in the race to acquire media rights of BCCI till 2018.
Multi Screen Media is all set to come up with Sony Six, a sports channel that it claims will cater to the ‘new-age Indian youth’.