The BCCI Receives a Boost for Its Media Rights Auction
The Board of Control for Cricket in India (BCCI) has been energized by the approval of the Zee Sony merger, which was granted on Thursday. This has caused a delay in the proceedings of the Indian Cricket Board’s media rights auction, but the two broadcast giants will still submit separate bids. Although it is beneficial for the BCCI, their rivals Viacom 18 and Disney Star are wary of the heightened competition.
NCLT Approval of Merger Plan
On Thursday, the National Company Law Tribunal (NCLT) gave the go-ahead for the merger plan between Culver Max Entertainment and Zee Entertainment Enterprises (formerly Sony Pictures Networks India or SPNI). According to sources, the entire process is expected to be finalized by mid-November. This is great news for the BCCI, with the bilateral cricket rights auction scheduled for August 31.
Separate Entities, Combined Spending Power
Despite the upcoming merger, Zee and Sony will still be participating in the auction as individual entities. It is believed that their combined spending power will give them an edge over their competitors, Viacom 18 and Disney Star.
Conclusion
The BCCI is in a great position, with the Zee Sony merger being approved just in time for the upcoming media rights auction. While it is beneficial for the Indian Cricket Board, their rivals have reason to be wary of the increased competition.