Sony signs $100 million media rights deal with New Zealand Cricket
Sony Pictures Networks India (SPNI) said it has acquired New Zealand Cricket (NZC) media rights for the Indian market. The deal is pegged at $90-$100 million (Rs 749-Rs 833 crore), according to industry executives.
SPNI, which has been on an acquisition spree in the sports media market and owns media rights to the England and Sri Lanka cricket boards, will broadcast NZC matches on both TV and digital platforms from May 2024 to April 2031. The rights deal includes two India tours to New Zealand, comprising 24 matches across test matches, one-day internationals (ODIs) and T20 internationals.
SPNI's head of sports business Rajesh Kaul said the addition of NZC rights will bolster the network's sports portfolio since New Zealand is one of the most respected cricket teams in the world. «Apart from the three cricket boards that we currently have, we are also evaluating a couple of other cricket rights that will become available. We will be prudent while bidding for cricket properties,» Kaul told ET.
The Asian Cricket Council's media rights deal with Star India has expired, and the property is expected to come up for bidding this year. The NZC deal marks the second major sports rights acquisition by the company after the collapse of the merger deal with Zee Entertainment in January.
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