Sony, World Sports Group bag IPL broadcast rights for Rs 8,200 crore
Multi Screen Media, formerly Sony Entertainment Television, and World Sports Group have been signed as the official broadcast partners for the DLF Indian Premier League in a fresh nine-year deal running through to 2017 for a whopping Rs 8,200 crore.Updated: Mar 25, 2009 21:14 IST
Multi Screen Media, formerly Sony Entertainment Television, and World Sports Group have been signed as the official broadcast partners for the DLF Indian Premier League in a fresh nine-year deal running through to 2017 for a whopping Rs 8,200 crore.
The new agreement, which is more than double the earlier deal signed last year for 10 years with the same two parties, gives MSM the exclusive audio visual rights (in India) to all the 59 matches of the second edition of the cash-rich IPL due to start on April 18 in South Africa, a media release said on Wednesday.
Talking about the deal, IPL Chairman and Commissioner Lalit Modi expressed his confidence that MSM would pull out all the stops in ensuring that the best technology is utilized to deliver “excellent content that is creative, innovative and enriching for the cricket fans in India and indeed across the globe.”
“We are absolutely delighted with the new deal inked today with WSG and Multi Screen Media, we have what we believe to be the best deal for the DLF Indian Premier League and Indian cricket fans alike”, Modi added.
The Cricket Board, which owns IPL, had on March 15 ended its previously signed contract with Sony and entered into an exclusive new contract with WSG on the same day.
Sony challenged the termination in the Bombay High Court and the case is pending. In view of the out-of-court settlement the suit could now be withdrawn.
Manjit Singh, CEO of MSM said the acquisition of the media broadcast rights for another nine years reaffirms “our commitment to the Indian sub-continent and the global cricket fan alike”.
“We are absolutely delighted to bring the exciting IPL line-up of Indian and international cricketers to the millions of cricket fans globally”, he said, adding “We look forward to a long and successful association with the IPL as the leagues Global Media Rights Partner.”
Venu Nair, CEO of WSG said, "Our base objective with the IPL franchise was to place Indian Cricket on the global sports calendar, a task, that we have managed with great distinction."
First Published: Mar 25, 2009 21:07 IST