IPL fetches staggering media rights for over $6 billion

NEW DELHI (AP) — U.S. media giant Walt Disney and India’s Reliance Industries have won the broadcasting rights for the Indian Premier League for more than $6 billion, making the Twenty20 cricket competition one of the most lucrative sports leagues in the world in terms of cost per game. Indian cricket board secretary Jay Shah says Disney-owned Star India retained the television broadcast rights from 2023 to 2027 for 235.75 billion Indian rupees ($3.02 billion) in an auction process. Viacom18, a broadcasting joint venture run by Mukesh Ambani’s Reliance Industries, won digital streaming rights for 237.58 billion Indian rupees ($3.04 billion). Leading international cricket stars participate in the IPL which has continued to grow significantly since the first season in 2008.