New Delhi: STAR India on Monday bagged Indian Premier League’s (IPL) media rights with a bid of Rs. 16,347.50 crore for a five year period running from 2018 to 2022, edging out Sony Pictures in the bidding process held in Mumbai.

With this, STAR will now have India broadcast, India digital and the rest of world broadcast and digital rights until 2022. The rights had been segregated in two categories — broadcast and digital (internet and mobile) rights.

The rights on offer included the Indian sub-continental TV rights along with rest of the world media rights, including international markets like the Middle East, Europe, USA, Africa, Australia and New Zealand.

Initially, 24 companies were in the bidding contest. Among these were big names like Facebook, Amazon, Twitter, Yahoo, Reliance Jio, STAR India, Sony Pictures, Discovery, Sky, British Telecom and ESPN Digital Media.

After long deliberation over figures, BCCI CEO Rahul Johri announced STAR and Sony as eligible candidates for broadcast rights. For digital rights, the eligible players that emerged were Times Internet, Reliance Jio, Airtel and Facebook. But STAR going ahead with a consolidated bid for both broadcast and digital globally clinched it the deal.

Sony Pictures Network had the IPL media rights for a 10-year period from 2008. They had won it with a bid of Rs 8200 crore. However, Novi Digital had the global digital rights of IPL for a three-year period, which they won in 2015 for 302.2 crore.

“I would just like to convey my delight at being finally able to bring IPL to what we believe is the rightful home for cricket in this country and elsewhere,” said STAR India owner, Uday Shankar.

“I would also like to thank the BCCI for finding us the appropriate partner and trusting us with IPL rights. I would like to congratulate the BCCI for running a transparent process. IPL is a powerful property and we believe there is lots more value that can be created for fans on digital and TV. We will make sure the growth of sports in this country continues to be driven by the power of cricket,” he added.