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Breaking James Murdoch indicates disciplined bid for cricket rights with an eye on EBITDA targets

Manu

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MUMBAI: Will Star India bid irrationally for the five-year new cycle of Indian Premier League (IPL) media rights?

21st Century Fox CEO James Murdoch has said that the company is open to strengthening its cricket rights portfolio but it would be fiscally prudent to acquire new rights in order not to upset its near-term and long-term targets of achieving $500 million EBITDA by 2018 and $1 billion by 2020.

Murdoch’s comment comes at a time when the company’s India unit is aggressively pursuing the IPL rights, which are up for grabs. The IPL media rights for the Indian subcontinent is expected to be hotly contested between Star India and Sony Pictures Networks India, the incumbent broadcast rights holder for the region. Star is the incumbent digital rights holder for India.

Star’s cricket portfolio comprises ICC, Asia Cricket Council, BCCI, Cricket Australia and England Cricket Board (ECB) rights. Between these five properties, the company is assured of enough volume of high-quality cricket. However, the IPL has been a big missing piece in Star India’s cricket portfolio.

continue reading - James Murdoch indicates disciplined bid for cricket rights with an eye on EBITDA targets | TelevisionPost.com
 
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