Sun TV Network Acquired Hyderabad IPL Franchise

Chennai based SUN TV Network acquired the Indian Premier League (IPL) Hyderabad franchise on 25 October 2012 for an enormous amount of 85.05 crore Rupees per year.

The Hyderabad franchise of the Indian Premier League was fell vacant after the Board of Control for Cricket in India (BCCI) dropped Deccan Chargers in October 2012 for its failure to give a bank guarantee and other issues.

The deal was made by owner of Sun TV Network, Kalanithi Maran who bought the (IPL) Hyderabad franchise for 425 crore Rupees (approx $80m) which is payable in the next five years at 85.5 crore Rupees per year.

The bid made by SUN TV Network was substantially higher than the second bid of 69.03 crore Rupees made by PVP Ventures of Hyderabad.

For attracting more bidders, the BCCI had kept the base price at reasonable 60 crores Rupees per year. The franchise was earlier owned by Deccan Chronicle Holdings Ltd. (DCHL) who had bought the Hyderabad franchise for 428 crores rupees for a period of 10 years.

Chennai-based Sun TV Networks Limited is the part of Sun Group and is one of India's biggest television networks with 32 TV channels and 45 FM radio stations primarily catering to an audience in the four southern languages of India. Their network includes channels covering news, entertainment, film, documentary and music.