Know all the details of the e-auction held on 31st Aug for media rights for matches in India.
Viacom 18, a subsidiary of Reliance Industries, secures BCCI's linear and digital rights for Indian cricket for the next five years in an e-auction on 31st August.
All bilateral games involving India, domestic cricket, IPL, and WPL are now exclusively on Viacom 18.
Since the announcement last evening, share prices of Viacom 18 have surged more than 4.5% in the opening hour of the market, reaching a high of Rs 73.80 per share.
Viacom 18 outbids Disney Star and Sony acquires rights for Rs 5,963 crore for both digital (Rs 3,101 crore) and linear (Rs 2862 crores) telecasts.
The value of each international match increases to Rs 67.75 crore, up from Rs 60 crore in the previous cycle.
India's cricketing clout continues to grow; high valuations, sought-after matches, and increasing income for boards are clearly reflecting BCCI’s might.