In the biggest-ever deal in the sporting history of India, Multi Screen Media and World Sport Group have bought the telecast rights of the Indian Premier League for a whopping Rs 8,200 crore (around $ 1.63 billion) for a period of nine years.
Multi Screen Media (Sony), which had bought the rights in the inaugural season for $ 1.1 billion, shelled out more than half a billion dollars this time to acquire the rights. MSM had earlier dragged IPL to court after it had terminated the existing contract, signed last year, and sold it to WSG Mauritius. MSM earned handsome revenues from the 45-day extravaganza last season. But it will be interesting to see how hard it sells the slots this time, given that media planners are already demanding a cut in rates.
"We have done some pioneering work in showcasing cricket in an entertaining and informative way and will continue to extend the excitement of cricket through the IPL," MSM CEO Manjit Singh said.