World Sport Group Pays $1 Billion For IPL Rights

Entities Mentioned

• New Media
• Zee Group

1. The Indian Premier League (IPL), the Twenty20 league being formulated by the Board for Control of Cricket in India (BCCI), has sold media rights to the World Sport Group (WSG) for $1.026 Billion, in a 10 year deal, report Economic Times and Moneycontrol. The broadcast rights amounting to $918 million have been signed over to Sony (NYSE: SNE) Entertainment Television (SET) for five years, while another $108 million will need to be spent on marketing and promotions. ContentSutra readers should note that the New Media rights will remain with WSG. The BBCI had set a reserve price for $59 ... (Read Full Article)

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