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