More news on this, with the final winning bid being over US$300 million from Zee TV. Does anyone know if this means that the India - Aus series will be on Zee in the UK? I was hoping to see it on Sky Sports!
From Reuters:
Zee poised to bag lucrative Indian TV rights
Sun 5 September, 2004 14:24
MADRAS, India, Sept 5 (Reuters) - India's cricket board is set to sell its lucrative television rights to Zee Network, the country's biggest listed media company, for $308 million over the next four years.
Zee's bid represents an increase of almost sixfold from the previous rights held by state-run national broadcaster, Prasar Bharti, which paid $54 million.
"Zee are the highest bidders," Board of Control for Cricket in India president Jagmohan Dalmiya said after a marketing committee meeting on Sunday.
"They increased the amount to $308 million in the final discussions."
Dalmiya added Zee had been asked to make an initial deposit of $20 million within the next three days and to furnish a bank guarantee for a further $75 million by September 15.
Zee, India's third-ranked network, emerged victorious after a fierce bidding war with ESPN-Star Sports (ESS), who had bid $230 million.
Both groups were attracted to the expanding television advertising market in a cricket-mad country of more than 1.1 billion people.
Zee has also announced it would launch a separate sports channel to broadcast India's home test series against Australia, starting on October 4.
Cricket corners three-quarters of sports advertising in India and draws millions of viewers. Air time during the India-Pakistan series in March and April sold at between 200,000 and 300,000 rupees ($4,300 and $6,500) per 10 seconds.