Sony India secures $170 mln Asian cricket media rights; Reliance-Disney skips bidding

Reuters11-22

By Aditya Kalra and Aleef Jahan C S

Nov 22 (Reuters) -

Sony's India unit

said

on Friday it had secured the media rights for all Asian Cricket Council (ACC) tournaments until 2031, which a source with direct knowledge of the matter put the value at $170 million.

Disney and Reliance , seen as frontrunners, did not bid for the rights, another source said on condition of anonymity.

The deal comes at a crucial time for the country's media industry, which is going through a consolidation phase after the $8.5 billion merger of Reliance and Walt Disney's India media assets.

Earlier this year, India's antitrust body raised some concerns about the merged entity's grip over the broadcast of the world's most populous country's favourite sport, Reuters had reported.

The entity currently holds the rights to the matches of the Indian Premier League and International Cricket Council.

The media rights of the ACC were with Disney-owned Star India until 2023, before they were temporarily extended, according to media reports.

The newest deal ensures the coverage of Asian cricket's marquee tournaments across television, digital and audio platforms, Sony India said in a statement.

The deal will be a significant boost for Sony to bolster its foothold in India after it pulled out of a $10 billion merger with Zee Entertainment earlier this year.

Disney, Reliance and Sony India did not immediately respond to Reuters' requests for comment.

(Reporting by Aditya Kalra in New Delhi and Aleef Jahan in Bengaluru, writing by Indranil Sarkar; Editing by Shreya Biswas)

((aleefjahan.cs@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2485269599?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-22 22:32","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2485269599","market":"us","top_or_hot":-1,"title":"Sony India secures $170 mln Asian cricket media rights; Reliance-Disney skips bidding","media":"Reuters","content":"<html><body><p>By Aditya Kalra and Aleef Jahan C S</p><p>      Nov 22 (Reuters) - </p><p>   Sony's    India unit </p><p>   said</p><p>    on Friday it had secured the media rights for all Asian Cricket Council (ACC) tournaments until 2031, which a source with direct knowledge of the matter put the value at $170 million. </p><p>   Disney    and Reliance   , seen as frontrunners, did not bid for the rights, another source said on condition of anonymity.</p><p>   The deal comes at a crucial time for the country's media industry, which is going through a consolidation phase after the $8.5 billion merger of Reliance and Walt Disney's India media assets.</p><p>   Earlier this year, India's antitrust body raised some concerns about the merged entity's grip over the broadcast of the world's most populous country's favourite sport, Reuters had reported.</p><p>   The entity currently holds the rights to the matches of the Indian Premier League and International Cricket Council.</p><p>   The media rights of the ACC were with Disney-owned Star India until 2023, before they were temporarily extended, according to media reports.</p><p>       The newest deal ensures the coverage of Asian cricket's marquee tournaments across television, digital and audio platforms, Sony India said in a statement.</p><p>   The deal will be a significant boost for Sony to bolster its foothold in India after it pulled out of a $10 billion merger with Zee Entertainment earlier this year.</p><p>   Disney, Reliance and Sony India did not immediately respond to Reuters' requests for comment.</p><p> (Reporting by Aditya Kalra in New Delhi and Aleef Jahan in Bengaluru, writing by Indranil Sarkar; Editing by Shreya Biswas)</p><p>((aleefjahan.cs@thomsonreuters.com))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sony India secures $170 mln Asian cricket media rights; Reliance-Disney skips bidding</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSony India secures $170 mln Asian cricket media rights; Reliance-Disney skips bidding\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-22 22:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Aditya Kalra and Aleef Jahan C S      Nov 22 (Reuters) -    Sony's    India unit    said    on Friday it had secured the media rights for all Asian Cricket Council (ACC) tournaments until 2031, ...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GB00BDT5M118.USD","symbol_name":"天利环球扩展Alpha基金A Acc","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2485269599","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485269599","pubTimestamp":1732285922,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"By Aditya Kalra and Aleef Jahan C S      Nov 22 (Reuters) -    Sony's    India unit    said    on Friday it had secured the media rights for all Asian Cricket Council (ACC) tournaments until 2031, whi","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","LU0310800379.SGD":"FTIF - Templeton Global A Acc SGD","BK4524":"宅经济概念","BK4577":"网络游戏","BK4588":"碎股","BK4550":"红杉资本持仓","BK4108":"电影和娱乐","SONY":"索尼","LU1894683264.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) ACC","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","BK4551":"寇图资本持仓","BK4585":"ETF&股票定投概念","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","BK4561":"索罗斯持仓","BK4534":"瑞士信贷持仓","SG9999015978.USD":"利安颠覆性创新基金A","BK4581":"高盛持仓","BK4507":"流媒体概念","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","BK4078":"消费电子产品","LU1267930573.SGD":"TEMPLETON GLOBAL \"AA\" (SGD) ACC A","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","DIS":"迪士尼","LU0708994859.HKD":"TEMPLETON GLOBAL \"A\" (HKD) ACC","BK4598":"佩洛西持仓","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","LU1894683348.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) INC","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","LU0029864427.USD":"TEMPLETON GLOBAL \"A\" (USD) INC","LU0128525929.USD":"TEMPLETON GLOBAL \"A\" (USD) ACC","BK4571":"数字音乐概念","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC"},"translate_title":"索尼印度公司获得1.7亿美元的亚洲板球媒体版权；信实迪士尼跳过竞标","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SONY":1,"DIS":1},"content_text":"By Aditya Kalra and Aleef Jahan C S      Nov 22 (Reuters) -    Sony's    India unit    said    on Friday it had secured the media rights for all Asian Cricket Council (ACC) tournaments until 2031, which a source with direct knowledge of the matter put the value at $170 million.    Disney    and Reliance   , seen as frontrunners, did not bid for the rights, another source said on condition of anonymity.   The deal comes at a crucial time for the country's media industry, which is going through a consolidation phase after the $8.5 billion merger of Reliance and Walt Disney's India media assets.   Earlier this year, India's antitrust body raised some concerns about the merged entity's grip over the broadcast of the world's most populous country's favourite sport, Reuters had reported.   The entity currently holds the rights to the matches of the Indian Premier League and International Cricket Council.   The media rights of the ACC were with Disney-owned Star India until 2023, before they were temporarily extended, according to media reports.       The newest deal ensures the coverage of Asian cricket's marquee tournaments across television, digital and audio platforms, Sony India said in a statement.   The deal will be a significant boost for Sony to bolster its foothold in India after it pulled out of a $10 billion merger with Zee Entertainment earlier this year.   Disney, Reliance and Sony India did not immediately respond to Reuters' requests for comment. (Reporting by Aditya Kalra in New Delhi and Aleef Jahan in Bengaluru, writing by Indranil Sarkar; Editing by Shreya Biswas)((aleefjahan.cs@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485269599"}