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Why Did Facebook Make a $600 Million Investment to Stream Indian Cricket?

By BenZinga
Capital Markets

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Facebook Inc (NASDAQ: FB) continues to expand its global empire, extending far beyond its core social media platform. In the latest attempt at this type of expansion, the company reportedly presented a bid of $600 million for a five-year deal to stream Indian cricket games, Recode reported.

While Facebook didn’t end up winning the contract, it signaled to the world it not only has the necessary capital needed to stream sports content worldwide but it will not hesitate to sign a nine-digit check to do so, Recode suggested.

Facebook’s ambitions to broadcast live sports hasn’t been a secret but the company …

Read more at Benzinga.

Photo: Getty iStock

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