Reliance Industries’ Viacom18 and Sony Pictures Networks India (SPNI) have emerged as the leading networks bid for the upcoming Asian Cricket Council (ACC) media rights, according to a report by The Economic Times.
While Zee Entertainment’s name has also circulated as a potential bidder, company officials have denied any such plans, emphasising that their current focus is on cost management and enhancing profitability, the ET report said.
Originally scheduled for October 30, the media rights e-auction has been postponed to November 20, the report said. However, with Maharashtra Assembly elections also slated for the same day, there is uncertainty about whether the auction will proceed as planned, the report further said..
The bidding comes as the media industry undergoes a phase of consolidation. Viacom18 is set to merge with Star India, creating a media giant valued at over Rs 70,000 crore.
The combined Star-Viacom18 entity already holds several major cricket broadcasting rights, including for the Indian Premier League, the International Cricket Council, the Board of Control for Cricket in India, Cricket South Africa, and Cricket Australia. Securing the ACC media rights would create, for all practical purposes, a monopoly in the cricket broadcasting market.
For SPNI, winning the ACC rights would help it to enhance its sports portfolio, which currently includes cricket rights for the England and Wales Cricket Board, New Zealand Cricket, and Sri Lanka Cricket.
The report quoted a senior sports media executive as saying that the Asia Cup is a significant media property, particularly due to the rare India-Pakistan matches it offers.
The executive added that while Viacom18 has already invested heavily in multiple cricket properties, Sony may be keen to acquire the ACC rights, though the $170 million base price might be steep for a fiscally prudent company like SPNI.
