Mumbai:The media rights for Cricket Board-promoted Indian Premier League (IPL) were bagged by the consortium of Sony Television and World Sports Group for $ 1.026 billion (Rs 4030 crore approximately) which included $ 108 million (Rs 424 crore) for compulsory promotions.
"There were two bidders in the final phase - ESPN Star Sports and the Sony-WSG combine," IPL chairman-cum-commissioner Lalit Modi told a media conference today.
"Sony-WSG bagged the media rights for $1.026 billion comprising $918 million plus $108 million for compulsory promotional activities. The bid was for ten years," said Modi.
"There were seven individual bidders in the initial phase but finally only two were left," he said.
WSG and Sony, who bid separately earlier for the media rights for the Twenty20 League before combining forces in the final phase.
The tournament, involving eight franchise teams, will be held in a dozen cities under floodlights for 44 days beginning April 18, Modi said.