The Novi Digital Entertainment subsidiary of pay-television broadcaster Star India has acquired rights for the next three seasons of the Indian Premier League Twenty20 cricket tournament, from 2015 to 2017.
The Board of Control for Cricket in India, which operates the competition, said that the rights fee was R302.2 crore (€43m/$48.5m).
The reserve price for the rights, which cover online and mobile platforms in the Indian subcontinent, as well as television, audio, internet and mobile rights in certain international territories, was R120 crore.
Bids were also submitted by the Times Internet division of the Times of India group and media company Multi Screen Media.
In the previous four-year period, from 2011 to 2014, a consortium of Times Internet and telecommunications company Nimbus Communications paid a total of Rs261.6 crore.