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After
protracted three-day bidding process which ended in the early
hours of this morning, Prasar Bharati outbid the rights holder
Nimbus with its bid of Rs 812.5 million. Nimbus is understood
to have bid an amount of Rs 750 million.
Until
now, Nimbus had been marketing the telecast on both its Neo
Sports as well as the Doordarshan Sports channels.
While
the Act provides that the rights holders for telecast of sporting
events of national importance are required to share the broadcast
signals with the public broadcaster, the decision about marketing
the commercial time is taken on the basis of a bidding process.
In an official response, Nimbus said DD made an extremely
lucrative offer of Rs 970 million gross, which is Rs 812.5
million net, to market the ad time on DD alone.
"We
liked the offer, so we accepted it. This
is good for Nimbus as it allows both our licensees ( Neo Sports
Broadcast to focus on Cable & Satellite segment and DD
to focus on terrestrial segment) to maximize their respective
revenues," a Nimbus spokesperson said.
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