Gloves come off in India’s digital content wars: ugalani
, the top competitive threat for the duo. Disney was helped by the ICC’s preference for a partially sealed bidding process; it would have been harder to beat Ambani in an open e-auction given his ambitions and powerful backers including James Murdoch. It is an elegant pincer move.
After the deal, Disney will have a rounded cricket portfolio. It will own television rights for five years to the lucrative, an annual tournament that lasts two months, which it bought in June for an eye-watering $3 billion. It also will hold digital rights to the ICC games throughout the rest of the year. Disney has lost rights to stream the IPL online to Reliance, which also paid $3 billion for those. But the dispersed nature of the ICC is arguably a better and cheaper hook for the U.S.
The deal suggests Disney is confident that Punit Goenka, boss of $3 billion entertainment powerhouse Zee, can assuage the competition regulator’s concerns over its plan to merge with Sony India, through which it will get a cash infusion. Shares in the Indian television pioneer have fallen 2% since Reuters reported on Thursday that the antitrust regulator found the proposed $10 billion enterprise would have “unparalleled bargaining power”.
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