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Billionaire Mukesh Ambani’s conglomerate will stream Indian Premier League cricket games for free, according to people familiar with the matter, using its exclusive rights to one of the world’s most-watched sporting events to challenge Walt Disney Co. and Amazon.com Inc. in India’s booming media market.
Viacom18 Media Pvt., the joint venture between Paramount Global and Ambani’s conglomerate Reliance Industries Ltd., licensed the IPL streaming rights last year for $2.7 billion, fending off competitors Disney and Sony Group Corp. Disney previously had those rights, and used them to drive subscribers to its streaming service, Disney+ Hotstar.
