Facebook may have a lot of money, but it doesn’t always win bets.
The world’s largest social network failed to win the exclusive rights to stream five cricket games from The Indian Premiere League, the IPL revealed Sunday. Facebook offered up about $ 610 million and lost out to 21st Century Fox’s Star India bid of $ 2.5 billion.
Even though it lost, the bid shows just how ambitious Facebook’s live video—particularly for sports—operation is becoming. The multibillion dollar company is willing to hand over millions for digital streaming rights, and it’s clearly looking at international sports. Read more…
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