Sun TV might be at the pinnacle of media and entertainment but the group just ventured into Cricket by buying the Hyderabad IPL franchise for Rs.85 crore a year. While this comes as a surprise, it's not something beyond the reach of the giants who are the largest media group in Asia.
BCCI secretary Sanjay Jagdale confirmed the news in a press release, saying: "Sun TV Network has won the Hyderabad franchise for an amount of Rs. 85.05 crore per year. This franchise fee represents a premium of over a 100% above the amount paid by DCHL for the Hyderabad Franchise in 2008."
The news puts an end to weeks of speculation surrounding the cash-strapped Deccan chargers team. During yesterday's event in Hyderabad by the IPL Governing Council, Kalanidhi Maran's Sun Network Group was found to have the highest big among the participants and won the auction. Considering the 20 TV Channels and 48 Radio Stations they own in South India, we can expect a lot of promotions and involvement from the group during the next IPL season.