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Ambani’s Venture Clinches $2.7 Billion Cricket Streaming Rights

  • Reliance-Paramount tie-up beats Disney in intense bidding war
  • Disney wins television rights for $3 billion at IPL auction
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Counterpoint Research's Pathak on IPL Media Auction
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Billionaire Mukesh Ambani’s media venture won the digital streaming rights to the Indian Premier League for as much as 210 billion rupees ($2.7 billion), outbidding entertainment giants including Walt Disney Co. and Sony Group Corp., according to people familiar with the matter.

Viacom18 Media Pvt., a joint venture between Paramount Global and Ambani’s Reliance Industries Ltd., clinched the online rights to the popular annual cricket tournament, the people said, asking not to be identified as the information isn’t public. The Board of Control for Cricket in India, the local governing body for the sport that kicked off the auction June 12, has yet to officially announce the winners.