Well recently sony has been losing many bollywood and hollywood films to star/disney, their Hindi GEC chs too aren't performing that well (except few shows on Sony and Sony Sab), Sony BBC Earth too seems to doing not quite good though it airs excellent content.
My only worry is that if Sony acquires IPL rights at extremely high price then we know it will very difficult to break even or try to make profits, i just hope they do not drastically reduce investment in content across their channels in above genres.
I know they have a merger with zee but still i believe (as per articles published) over last few years even zee has not had a great revenue or profit across its channels in various genres.
Star/disney on the other hand has less to worry, not only its channels have been top performer across genres so even if it loses IPL rights it will stay have lots of content to maintain leadership position on OTT or linear tv front. If star/disney wins IPL rights then it will add to its robust content line up , they r even financially lot stronger so can afford to have some losses from IPL . Most importantly IPL will add lots more subscribers on disney+hotstar thus adding to its valuation. Saying so i do not want any broadcaster to buy IPL rights at a price point which is unviable from business perspective.
To summarise my point star/disney is in a win win situation even if loses or wins IPL rights