Star India's Novi Digital Entertainment bags IPL 2015 media rights

Novi bagged the media rights for a cumulative fee of Rs. 302.2 crore, for three seasons, trumping bids from Times Internet and Multi Screen Media.

Star India's wholly-owned subsidiary Novi Digital Entertainment has bagged IPL media rights for three seasons, following a tender process.

The company has bagged the rights for a cumulative fee of Rs. 302.2 crore for the three seasons. According to BCCI, the sum is substantially higher than the fee of the previous rights period.

The announcement was made by the marketing committee of the Board of Control for Cricket in India (BCCI), in Mumbai. The cumulative reserve price of Rs. 120 crore, over the three seasons, was set for certain media rights relating to the Pepsi IPL for the 2015, 2016 and 2017 seasons. Bids were also received from Times Internet and Multi Screen Media.

Sanjay Patel, Hon. Secretary, BCCI, says, "Our partnership with Novi Digital Entertainment augurs well for the Pepsi IPL, as well as the millions of fans who follow the tournament, and we are delighted to commence an association with the organisation whose bid was found to be the most deserving."