Viacom18, a TV and streaming group backed by billionaire industrialist Mukesh Ambani, has paid $3 billion to win an online auction for two packages of digital rights to Indian Premier League (IPL) cricket.
It now has the leverage to change the Indian broadcasting landscape and to the tip the balance even further in favor of streaming.Variety understands that Viacom18 has agreed to pay $2.63 billion for a five year package of regional digital rights.
It also successfully bid an additional $417 million for what was billed as a non-exclusive package covering 98 matches over five years including tournament openers, playoffs, finals and selected evening games.Walt Disney, which has held the TV and digital rights to IPL for the past five seasons, won only the broadcast TV rights, but agreed to pay $3.01 billion for them.
Rights for the rest of the world were sold for $135 million with Times Internet the reported winner of rights in the U.S., Middle East and North Africa.
Read more on variety.com
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