Sports News | Sony Made Reasonable Bid, Considering All Expected Returns: NP Singh on IPL Media Rights
Get latest articles and stories on Sports at LatestLY. The Indian Premier League is now behind only the NFL in per-match value.
Mumbai (Maharashtra) [India], June 14 (ANI): NP Singh, MD and CEO, Sony Pictures Networks India said that the company made a reasonable bid for the Indian Premier League (IPL) media rights, considering all the expected returns.
The IPL media rights e-auction concluded on Tuesday with Disney Star retaining the TV rights in the subcontinent for Rs 23,575 crore (USD 3 billion approx), while Viacom 18 secured the digital rights in the same region and media rights (both TV and digital) across three global regions - Australia + New Zealand, the UK and South Africa - for Rs 23,758 crore (USD 3 billion approx).
Media rights for two other global regions - the Middle East (Rs 205 crore/USD 26.27 million approx) and the USA (Rs 258 crore/USD 33.06 million approx) - went to Times Internet.
Throw in the global numbers, and the IPL is now behind only the NFL in per-match value.
"I want to begin by congratulating and thanking BCCI for an extremely well-managed and transparent bidding process. Next, I want to congratulate the winners of the four IPL media rights packages. The IPL began with SPN and has since developed into one of the world's most popular sporting leagues in its 15-year history," NP Singh said.
"We've seen the league grow and would have liked to see it on the Sony Network again. In this regard, we made a reasonable bid, considering all the expected returns. We had to factor in the market's anticipated expansion and potential economic and other concerns over the next five years. Fiscal prudence, in my opinion, is critical for strategic management," he added.
Sony Sports Network will still broadcast over 1800 hours of cricket this year including India's tour of England as well as popular T20I tournaments like the Big Bash League, Pakistan Super League, Women's Big Bash League and more. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)