INDIAN PREMIER LEAGUE

IPL today announced that Entertainment & Sports Direct (ESD) has acquired the Indian Premier League's (IPL's) global theatrical rights to matches in the league to be played in Seasons 2010 through to 2019. The deal will give ESD the exclusive global exhibition rights for audiences in cinema halls, stadia, water borne vessels, buses, trains, armed service establishments, hospitals, bars, hotels, restaurants, airports, railway stations, shopping malls, offices, construction sites, oil rigs, clubs, auditoriums, spas, salons and other similar public venues.

Two bids were received for the global theatrical rights tender from Triplecom Media and ESD. The theatrical rights bid by ESD was of Rs. 330 crore which was the highest.

Lalit Modi, Chairman and Commissioner, Indian Premier League said, "We are absolutely delighted that after a fair and transparent process, we have what we believe to be the best global theatrical telecast deal for the Indian Premier League and its fans across India. Both the bids received were of very high standard and we would like to thank both the organizations for their submissions. The ESD bid is subject to final approval from the IPL Governing Council, and we believe that this agreement will help us take the IPL action direct to the fans on the large screen.”

ESD, promoted by DAR Capital Group, an investment advisory and private equity firm, is a company focused on sports and entertainment related content acquisition for which it has signed up with UFO Moviez and Valuable Media for theatrical and public exhibition in India and key-global markets.

Arun Rangachari, Director, ESD said, "We firmly believe that the IPL is a superior sporting event that has transformed the very landscape of cricket globally. We are very proud to be associated with this extremely prestigious event and would like to, through this path-breaking initiative, reaffirm our commitment to bringing high-octane sporting action to fans around the world. Together with our partners UFO Moviez and Valuable Media we are confident of bringing about a radical transformation in the way the sport of cricket is viewed and enjoyed by fans across the world. We believe that there are significant untapped business opportunities that are being addressed by this association that will create a global benchmark. ”

UFO Moviez Ltd. and Valuable Media Ltd., promoted by Valuable Group are pioneers of the digital media platform in India and around the world. UFO Moviez is the largest satellite based digital cinema network in the country with over 1700 screens.

Valuable Group acquired moviebeam, a digital media technology platform founded by Disney with over USD 250mm in investment, and has repurposed it for use in the hospitality and public venue markets around the world.

Sanjay Gaikwad, Managing Director, Valuable Group of Companies said “We are very excited with this new initiative kicked off by IPL. With UFO’s 1700 digital cinemas and our proprietary Hollywood studio approved moviebeam digital platform, this is a unique opportunity for theater owners and public venues to get exciting High Definition cricket content at their properties. Theaters normally starve for content during the IPL season and with IPL releasing content to theaters and public venues, every town across the country will be able to experience the stadium like electrifying atmosphere created by IPL.”