Regional television network Sun TV on Thursday won an auction to buy the Indian Premier League team based in Hyderabad after the cash-strapped Deccan Chronicle group was forced to sell. Sun TV, owned by the Chennai-based Maran group, put in the highest bid of $15.9 million a year for the rights to the franchise in the lucrative Twenty20 league that was founded in 2008. “The IPL Governing Council met earlier today in Mumbai to open the bids for a new IPL franchise,” the Board of Control for Cricket in India said in a statement.
