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Did sky-high pricing of IPL bid stop some firms from pulling out of auction at the last minute?

Did sky-high pricing of IPL bid stop some firms from pulling out of auction at the last minute?

Author | exchange4media News Service | Tuesday, Sep 05,2017 8:16 AM

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Did sky-high pricing of IPL bid stop some firms from pulling out of auction at the last minute?
As Star India clinched the television (India and rest of the World) and digital broadcast rights for Vivo IPL for Rs 16347.50 crore it was surprising to see a few big names not participating in the auction. Amazon, Taj TV, Gulf DTH, Group M, Media India, Sky UK, ESPN Digital Media, BTG Legal Services, BTPLC, Twitter and Discovery had bought the bidding documents but didn’t submit their bids. 
 
Not everyone who picks the bid document has to necessarily bid. Amazon was going for digital rights while Discovery Communications was vying for TV rights. An industry source believes that neither of the parties might have found this to be “a financially viable venture”. 
 
When contacted, Discovery Communications and Amazon said that they don’t want to comment on this matter.   
 

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