The Marketing Committee of the BCCI today announced the Novi Digital Entertainment, which is a wholly owned subsidiary of Star India, will be awarded certain Media Rights to the Pepsi IPL for 2015, 2016 and 2017 season for a cumulative fee of Rs.302.2 crore.
The Marketing Committee had met in Mumbai today and received bids for these Media Rights for the three seasons from companies such as Times Internet, Multi Screen Media and Novi Digital Entertainment. The cumulative reserve price of Rs.120 crore for the three seasons was set.
“Our partnership with Novi Digital Entertainment Pvt. Ltd 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,” said Sanjay Patel, Hony. Secretary, BCCI.
In the release it was said that the Committee had awarded the Media Rights to Novi Digital after following the tender process and that the cumulative fee of Rs.302.2 crore that it received from Novi Digital is substantially higher that the fee of the previous rights period.
Previously it was awarded to Times Internet Ltd. and Nimbus Communication that had won the rights for Rs. 261.6 crore for a four year period.