Shrinking advertising budgets, weaker TV profitability, and continuing streaming losses have forced broadcasters to reassess how much they can afford to pay. At the same time, industry consolidation —particularly the merger of Star India and Viacom18 — has reduced competition for major cricket properties. The long-running model where broadcasters absorb losses while rights owners and franchises gain “has run its course,” one executive said. The development marks a sharp contrast to the buoyant 2022- 23 cyc ...