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BCCI Media Rights: Acquisition Of TV And Digital Rights Adds To Viacom18’s Rise In Cricket Broadcast World

By IANS News September 21, 2023 • 12:05 PM View: 759

On Friday, it was all green for the stocks of TV18 Broadcast Ltd. and Network18 Media and Investments Ltd. There was a good reason behind their stocks witnessing a jump: Viacom18 Media Pvt Ltd. acquiring the BCCI media rights, comprising international and domestic games, in television and digital for the next five years.

In an e-auction conducted by the BCCI on Thursday, Viacom18 beat competition from Sony Sports Network and Disney Star to get both TV and digital for broadcasting 88 matches, for a cumulative figure of INR 5,963 crores, which translates to INR 67.75 crores per game for the 2023-28 cycle.