Amazon plans to exit $7.7 Billion race for IPL streaming rights

Amazon’s surprise pullout leaves the field open for Ambani’s Reliance, Disney & Sony Group, who’re betting

the game will help them dominate an Indian consumer market increasingly going online.

Amazon.com Inc. is planning to withdraw from a heated competition for the rights to stream Indian Premier League cricket matches, 

ceding one of the world’s most popular sporting contests to rivals from Walt Disney Co. to Mukesh Ambani’s Reliance Industries Ltd.

is planning to throw in the towel rather than get into a bidding war at the June 12 auction, according to people familiar with the matter

While Amazon has already invested more than $6 billion in the country, more spending merely for the online streaming rights

 to the league didn’t make business sense, they said, asking not to be identified discussing internal deliberations.

 to the league didn’t make business sense, they said, asking not to be identified discussing internal deliberations.

Representatives for Amazon didn’t respond to a request for comment

Amazon’s surprise pullout leaves the field open to Ambani’s Reliance, Disney and Sony Group Corp.,