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Multi Screen Media (MSM), the broadcaster of IPL matches, today said it has taken insurance cover for weather for the fourth season of the T20 league starting April, estimated at Rs 900 crore.
“MSM has already taken insurance cover for weather for the IPL. The total cover value is to the tune of the total revenues that we are likely to make this year from the event,” MSM CEO, Mr Manjit Singh, said.
The firm's channel Set Max has been telecasting the IPL matches since inception and it reportedly garnered ad revenues of Rs 750 crore last year from the T20 league. Based on this figure, the weather insurance cover that MSM has taken for this year's IPL is worth about Rs 900 crore.
The cover is meant to recover losses if matches are washed out due to rain or not played due to other unfavourable weather conditions.
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