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Star outbid Sony, Win Six years brodcasting rights for $757.6 million

, April 2, 2012, 0 Comments

Rupert Murdoch controlled Star have outbid Multi Screen Media, a subsidiary of Sony to secure broadcasting right for next six years for $757.60 mn (Rs. 3850 Cr). Total of 96 matches would be covered in six year time span at an average price of Rs 40 cr per match, up from Rs 32.25 cr received from Nimbus Communications earlier.

Today’s win will strengthen Star’s sports offering. It already has the rights to all ICC events and the rights of domestic cricket in England and Australia.

In 2009, BCCI entered a four-year deal with Nimbus valued at Rs 2,000 cr. It was to expire in 2014. But BCCI scrapped the contract last December citing payment defaults by Nimbus. This contract with Star involves two years remaining from the Nimbus contract.