BCCI broadcast rights go sky-high with Star
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The Indian team's poor form on the field notwithstanding, the broadcast rights for India cricket between 2012 and 2018, were bought by Star India for Rs 3,851 crore, a significant rise from what Nimbus Communications, the previous rights holder had paid.
Star India is part of the broadcast network owned by Rupert Murdoch's News Corp and the rights include all international cricket played in India and domestic cricket, including the Ranji Trophy and the Irani Trophy.
Nimbus Communications, the broadcast company that owned the rights earlier had bid around Rs 2,700 crore in 2006 for four years and in 2009, renegotiated for another four-year period at a discounted price of Rs 2,000 crore.
The Indian cricket board scrapped its contract with Nimbus in December after it defaulted on payments and invited fresh bids. Even as market pundits forecast a lukewarm response from broadcasters given a tough economic environment, an overkill of cricket and also the dip in form of the Indian cricket team over the past year, the BCCI had received five bids.
Each of these bids was higher than the floor price of Rs 31.25 crore for each Category 'A' match and Rs 34 crore for each Category 'B' match.
Of the bids, two — one from Star India and the other from Multi Screen Media Pvt Ltd (earlier known as Sony Entertainment Ltd) — were accepted. While MSM had bid Rs 3,700 crore for the games, Star won with its Rs 3,851 crore bid for 96 matches to be played over the next six years in India. The deal works out to around Rs 40 crore per match against Rs 31.25 crore paid by Nimbus. It also includes internet and mobile rights along with the television rights.
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