Star India's Novi Digital Entertainment bags IPL media rights for whopping Rs 302 crore
Novi Digital Entertainment Private Limited, a wholly owned subsidiary of Star India Private Limited, has secured certain media rights relating to the Indian Premier League for a cumulative Rs 302.2 crore over a three-season period, the cricket Board announced today.
Mumbai: Novi Digital Entertainment Private Limited, a wholly owned subsidiary of Star India Private Limited, has secured certain media rights relating to the Indian Premier League for a cumulative Rs 302.2 crore over a three-season period, the cricket Board announced today.
BCCI secretary Sanjay Patel said these media rights had been bid for and won for the 2015,'16 and '17 seasons for a cumulative fee "which is substantially higher than the fee of the previous rights period," after the Board's Marketing Committee meeting here today.
Pleased with the outcome he said that the cumulative reserve price had been set for Rs 120 crore.
Bids from three entities were received - Times Internet Limited, Multi Screen Media Private Limited and Novi Digital Entertainment Private Limited.
The Marketing Committee, after following the due tender process, awarded these media rights (internet and mobile all over the world barring USA) to the subsidiary of Star, according to Patel.
It was learnt that the other two bids were for Rs 285 crore (MSM) and Rs 191.8 crore (Times).
It was also known that the digital rights for USA would be decided in the next six weeks.
"Our partnership with Novi Digital Entertainment Pvt. Ltd augurs well for the Pepsi IPL, as well as the millions of fans who follow the tournament and we are delighted to commence an association with the organisation whose bid was found to be the most deserving," said Patel.
Patel also said that for the first time the Board had found a sponsor for the "Strategic Time Out" taken during each T20 innings of the tournament for a cumulative amount of Rs 31.5 crore for three seasons.
Upbeat about these developments, Patel said that contrary to what has been written about in the media the winning bids "reflected the interest of the fans in IPL."
The 2015 edition of IPL is scheduled from April 8-May 24.
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