Broadcasters term cricket rights price high

NEW DELHI: A new floor price of $ 450 million set by the Indian cricket board for telecast rights of Indian cricket is being termed by wannabe bidders as being on the higher side.

A top contender for the rights admitted to, The price in the re-issued tender document, which combines the satellite and terrestrial rights (as done usually in the past), is a bit unrealistic and on the higher side.

It was also pointed out that the Board of Control for Cricket in India (BCCI), under a new regime, has got over ambitious by asking for $ 450 million for telecast rights even though Indian cricket sells.

After stating that it would be reissuing the Revenue Management Company tender, the Indian cricket board scrapped the whole thing and issued a new document combining the tenders for terrestrial and global satellite rights. The new floor price: $ 450 million, combining the minimum guarantees of $ 350 million and $ 100 million for the earlier two proposed tenders.

With new media norms stating that cricket will have to be shared with pubcaster Doordarshan on a mandatory basis and the controversies generally surrounding the cricket rights, the high floor price is adding to inflated tensions of sports broadcasters.

That the new asking price is stiff can be gauged from the fact that even a financially strong company like Zee Telefilms, which emerged the highest bidder with a quote of $ 308 million in 2004 for the telecast rights, might find it difficult to raise $ 450 million.

Banking sources admitted that Zee Telefilms may have to re-negotiate some terms with financial institutions for additional funds as at present it has the mandate from its bankers for a bid up to $ 350 million only.

The sources indicated that a South East Asia headquartered sports broadcaster too would have to stretch its financial resources if it wants a slice of the action.

However, BCCI officials justified the floor price of $ 450 million by saying Indian cricket is a lucrative proposition and that its straight calculation without any hidden costs.

They also said that non-serious players get weeded out if the floor price is being termed high.

Why is it that just when people start thinking the cricket telecast rights are being settled, news twists are added?

Latest Reads
Saregama returns to film music acquisition with Pen pact

Saregama India has inked a two-movie deal with Pen Movies. With this agreement, Saregama has acquired the music rights of upcoming Bollywood releases of Pen which includes Kahaani 2 -- Durga Rani Singh, featuring Vidya Balan and Arjun Rampal.Kahaani 2 is slated for a release on 2 December.

Television TV Channels Music and Youth
Q2-17: Zeel numbers, PAT up on higher Ad and Subscription revenue

The Subhash Chandra led content and broadcast player Zee Entertainment Enterprises Limited (Zeel) reported a 23 per cent hike in consolidated revenue for the quarter ended 30 September 2016 (Q2-17, current quarter) as compared to the corresponding quarter of the previous year.

Television TV Channels GECs
Best Deal TV appoints Hari Trivedi as COO

MUMBAI: Best Deal TV has appointed Hari Trivedi as the chief operating officer with immediate effect. Based in Mumbai, Trivedi will be responsible for overall sales and marketing. He would also be initializing lowest price offers and deals on Best Deal TV.

Television TV Channels People
Disney announces successor of MD Siddharth Roy-Kapur

MUMBAI: Walt Disney International has announced the successor to its former managing director Siddharth Roy-Kapur. As a second stint with the organization, Mahesh Samat has made a comeback and will lead The Walt Disney Company India as the managing director. He will pursue his new responsibility...

Television TV Channels People
Life is more imaginative than fiction in a story like POW, says writer-director Gideon Raff

MUMBAI: Sometimes, coming back home after 17 years is not always a happy ending. "Prisoners of War" is the story of three Israeli soldiers, who were held captive for that many years following their kidnapping while on a secret mission with their unit.

Television TV Shows Thriller
IPL media rights bidding postponed sine die

MUMBAI: The BCCI has made it clear that the media rights auction cannot take place till the time it gets a concrete go-ahead and a formal approval from the Justice RM Lodha committee. Till the evening of 24 October (Monday), BCCI did not receive the okay from the committee which said, "it is in...

Television TV Channels Sports
Q3-16: DIRECTV mitigates AT&T U-Verse TV subscriber numbers fall

BENGALURU: AT&T acquired DIRECTV added 323,000 net subscribers and hence helped mitigate the company’s Entertainment and Internet Services Group (Entertainment) segment’s loss of 326,000 U-Verse subscribers for the quarter ended 30 September 2016 (Q3-16, current quarter). About 70 percent of...

Television TV Channels English Entertainment
"Let India open its market, we will open ours" - PEMRA chairman Absar Alam

Pakistan’s TV watchdog - the Pakistan Electronic Media Regulatory Authority (PEMRA) - charimanAbsarAlam was in the line of Pakistan’s Geo News anchor Shahzaib Khanzada’s fire last week. In his Monday to Thrusday current affairs talk show Aaj ShahzaibKhanzada Kay Sath - the anchor grilled him time...

Television TV Channels GECs
BIG Magic acquires 'Boonie Bears' exclusive FTA rights

BIG Magic has acquired exclusive FTA rights of ‘Boonie Bears’, the No.1 and most popular animated series in China. BIG Magic has renamed it ‘Babloo Dabloo’ for the Hindi viewing audience. Babloo Dabloo airs every Monday – Sunday 10 am – 11 am & 5 pm – 6 pm only on BIG Magic

Television TV Channels GECs

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories