All in the world of the Indian premier league.
In an out-of-court settlement between the Board of Control for Cricket in India (BCCI), World Sport Group (WSG), the marketing agency, and Multi Screen Media (MSM), earlier called Sony Entertainment Television, the telecast rights for the Indian Premier League (IPL) Twenty20 tournament to India has been given for the next nine years to MSM. WSG retains global telecast rights, but has now a separate agreement with MSM to grant the latter the telecast rights for India .
The BCCI gets almost double what it was to get under the previous agreement of 2008, on whose termination Sony took the matter to the Bombay High Court. The BCCI gets about $1.64 billion (Rs 8,200 crore) over the next nine years, or about Rs 911 crore a year, compared with the Rs 450 crore a year it was supposed to get under the earlier deal.
Details on the agreements signed between MSM and WSG were not available at the time of reporting. The BCCI had terminated the deal with Sony on March 14 and signed a new agreement with WSG. At this, Sony then took the issue to the court. The talks on an out-of-court settlement began between the three parties shortly after.
In response to a text message, Lalit Modi, the IPL commissioner, confirmed the deal. Rohit Gupta, president, network sales, Sony TV, said: “I will not be able to comment. It is for the IPL to say.”
Speaking to Business Standard, Venu Nair, chief executive, South Asia, WSG, said: “We see tremendous value in IPL now, as opposed to what it was last year, and that is why the deal is almost double of what it was the last time. We are confident of the returns as it will ensure more eyeballs to the broadcasters, that, in turn, will attract advertisers.”
The IPL is now to be played in South Africa and Indian viewers will get to see the match on the SET MAX channel from 4pm and 8pm India time. Advertisers are upbeat as they had already booked over 50 per cent of the on-air time on SET MAX before the legal row started.
