The Multi Screen Media (MSM) has been very keen to hang on to the Indian Premier League (IPL) telecast rights. The controversy brewing over the issue has settled now, and the rights remain with MSM. The involved parties have resolved the matter in an out of court settlement, and are in the process of closing all details of the deal.
The telecast rights of the IPL looked well to be on their way to NDTV on March 18, 2009. NDTV, backed by Astro was the strongest contender for the IPL. On Wednesday evening, not only had IPL Commissioner Lalit Modi written to large advertisers stating that the deal was terminated with MSM and the release orders (ROs) should not be sent to the company, but the MSM channels also had to take off the screen bugs that were displaying the IPL countdown logo.
However, the situation changed in the early hours of March 19, 2009.
MSM and NDTV were locked in a round of discussions with the World Sports Group (WSG) over the issue. MSM had to make a new bid and enter into a new contract with WSG that now is a sum of Rs 1.6 billion.
The BCCI had terminated its IPL telecast rights deal with MSM last Saturday. MSM had subsequently got an injunction from the Bombay High Court challenging BCCIâs decision, and BCCI was advised that it could not discuss the telecast rights with any other broadcaster in the interim.
The decision over the court case was inconclusive since Monday and the parties agreed for an out of court settlement on March 18, 2009.
MSM and IPL officials have not responded to exchange4mediaâs calls or mails.
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