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Multi-Billion-Dollar Bids For Cricket Rights Are Expected From Disney, Sony And Reliance In Duel With Global Streaming Implications

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Today is the day when bids are to be submitted for rights to the Indian Premier League, a cricket league whose games are a massive draw across South Asia and other parts of the world and have helped propel Disney’s global rollout of Disney+.After taking on cricket as part of its $71.3 billion acquisition of most of 21st Century Fox in 2019, Disney is expected to be one of three bidders in the auction, along with Reliance Industries and Sony Group Corp.

The multi-year rights package is expected to fetch somewhere between $6 billion and $8 billion, with the winner of the auction expected to be picked in the coming days.

The IPL’s two-month tournament is usually held in April and May.In a surprise, Amazon dropped out of the running late last week, according to multiple press reports.

The tech giant has not been afraid to shell out hefty sums to carry the NFL, European soccer and other live sports, but it has also faced a choppier operating environment of late and a cratering share price.With Amazon out the picture, Mukesh Ambani’s Reliance is widely tipped to be in pole position for the cricketing mega package.Reliance has reportedly been preparing for the auction for months, hiring top executives since last year to deliver the win and oversee coverage if victorious.One of Reliance’s major subsidiaries is Network 18, the mass media conglomerate that operates Viacom 18 and History TV 18 with Viacom and A+E Networks respectively, and the outfit will be keen to wrestle back some of the Indian viewer market share from Disney by securing the lucrative package.Sony’s interest has been galvanized by its recent merger deal between its India subsidiary and Zee Entertainment, which will create a newly fortified local player.A person

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