Zee still in race, to bid for terrestrial and satellite rights

Zee still in race, to bid for terrestrial and satellite rights

New Delhi, June 28: After losing out to media mogul Rupert Murdoch in the first round, Zee Telefilms on Wednesday said it will bid for `terrestrial and satellite' rights for the 2003 cricket World Cup for the lucrative Asia region.

Despite the ICC award going to Rupert Murdoch's company at a lesser bid of 370 million pounds, as against more than 400 million pounds of Zee and Trans World International (TWI), there would be bidding for the allotment of terresterial and satellite rights for particular regions.

Advertising revenue potential ICC World Cup bid would involve 50 per cent from the Asia subcontinent alone, the release said.

Zee preferred an outright purchase of TV, sponsorship, licensing, merchandise, and internal rights of the World Cup.

But ICC preferred to have the bidder as marketing agency who would sell to other broadcasters and sponsors apart from the minimum guaranteed amount and share of revenue above it.

Zee was awarded the Board of Control for Cricket in India (BCCI) marketing rights for the next four and a half years after the company raised the revenue bar to over 70 per cent within the span of three days.

The Indian media major currently has 11 channels and reaches out to more than 220 million viewers in Asia.