Sony Culver Max has acquired the media rights for the next eight years through the e-auction at a base price of US$170 million.
The following e-auction saw a 70% increase compared to the previous cycle, in which Disney-Star claimed the rights for the cycle during 2016-2023. Surprisingly in these media rights e-auction, Sony was the only participant as Jio-Disney did not turn up for the e-auction.
The merger between Jio & Disney which was recently completed on November 14, had an internal setup where Disney was supposed to be present at the auction table. The claim of the Asian Cricket Council would have further solidified the portfolio of the Jio-Disney International Cricket Council, Board of Cricket Control in India, Cricket South Africa, and Cricket Australia as well as other major franchise leagues. Still, notably, Sony was the only participant when the e-auction commenced at 11 am UAE.
The deal encompasses all editions of men’s & women’s Asia Cup of men’s & Women’s Asia Asia Cups, U-19 men’s Asia Cup & U-19 Women’s Asia Cup which was recently added as well as the Men’s & Women’s Emerging Asia Cup.
“With Sony Pictures Networks India as our new media partner, we are confident in their ability to deliver world-class coverage and an immersive viewing experience for fans worldwide,” Jay Shah, president of ACC, said in a statement.
The acquisition is a significant win for SPNI, with Gaurav Banerjee, the newly appointed MD and CEO, managing to secure marquee tournaments at a relatively modest valuation compared to the increasingly prohibitive prices seen for the International Cricket Council (ICC), the Board of Control for Cricket in India (BCCI), or the Indian Premier League (IPL) rights. This is the first time Sony Networks has won a cricket property right in auctions.
The upcoming Asia Cup will be played in February 2025 whereas the first edition of the Women’s Asia Cup will be played in 2027 held in Malaysia.