The media business is witnessing main consolidation, notably within the cricket broadcasting area.
Reliance Industries’ Viacom18 and Sony Pictures Networks India (SPNI), also known as Culver Max Entertainment, have emerged as the frontrunners in the race to secure media rights for the Asian Cricket Council (ACC). According to a report by The Economic Times, both companies are leading the bid for what could become a significant property in the world of cricket broadcasting.
Auction on November 20
Originally scheduled for October 30, the much-anticipated e-auction for the ACC media rights has now been postponed to November 20. However, uncertainty looms over whether the auction will proceed on that date, as it coincides with the Maharashtra Assembly elections.
Despite this, anticipation around the event continues to grow as Viacom18 and SPNI gear up for a competitive bidding process.
Zee Entertainment not in race
Although Zee Entertainment’s name has been speculated as a potential bidder for the ACC rights, company officials have quashed these rumours. Zee has clarified that its current focus is on cost management and profitability rather than expanding its sports portfolio.
This decision stands in contrast to the moves of Viacom18 and SPNI, both of which are aggressively vying for a stronger foothold in cricket broadcasting.
Viacom18-Star India dominating India sports broadcasting
The media industry is witnessing major consolidation, particularly in the cricket broadcasting space. Viacom18, currently in the process of merging with Star India, is set to form a media powerhouse valued at over Rs 70,000 crore. This merged entity already holds several key cricket rights, including for the Indian Premier League (IPL), International Cricket Council (ICC), and multiple cricket boards, such as South Africa and Australia.
Meanwhile, SPNI’s proposed merger with Zee was called off earlier this year due to unresolved issues. However, winning the ACC rights could bolster SPNI’s cricket offerings, which already include broadcasting rights for the England and Wales Cricket Board (ECB), New Zealand Cricket, and Sri Lanka Cricket.
What will be impact?
Securing the ACC media rights would further strengthen Viacom18’s hold on cricket broadcasting, particularly with its impending merger with Star India. The Competition Commission of India (CCI) has given conditional approval to this merger, clearing a major hurdle and bringing the deal closer to finalisation.
A senior sports media executive, quoted in the report, emphasised the significance of the Asia Cup as a media property, particularly given the coveted India-Pakistan matches. These matches are a rare but highly popular feature in the cricket calendar and would be a prized asset for whichever broadcaster secures the ACC rights.
Sony strategic approach
Despite the strong competition, SPNI remains a formidable contender. While Viacom18 has already invested heavily in numerous cricket properties, the report suggests Sony may be taking a more measured approach, particularly given the $170 million base price for the ACC rights.
For Sony, adding the ACC rights to its portfolio would enhance its sports broadcasting strategy and provide it with a key property in a market where cricket remains a dominant force.
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