The Sun TV network has won the Hyderabad franchise of the IPL, bidding
Rs 85.05 crores per year (around $15.9m) for a ten-year deal. The
decision was announced after a meeting of the IPL's governing council in
Mumbai on Thursday, and a week after Deccan Chargers, the original
Hyderabad franchise, was terminated after failing to meet the deadline
for raising its bank guarantee.
The other bidder for the franchise was PVP Ventures, who offered Rs
69.03 crores per year (around $12.9m). This was the second time PVP
tried to buy the franchise, having failed last month as well with a bid
of Rs 900 crores ($164m) for ten years.
Sun TV Networks Limited, which is headquartered in Chennai, is one of
India's biggest television networks with 32 TV channels and 45 FM radio
stations primarily catering to an audience in the southern parts of
India. Their network includes channels covering news, entertainment,
film, documentary and music.
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