Nimbus acquires World Sport Group’s shareholding in Sports JV

Nimbus acquires World Sport Group’s shareholding in Sports JV

Author | exchange4media Mumbai Bureau | Wednesday, Jun 08,2005 8:40 AM

Nimbus acquires World Sport Group’s shareholding in Sports JV

Nimbus Communications, the India-based media, entertainment and sports company, has acquired the 50 per cent shareholding of World Sport Group in World Sport Nimbus Pte Ltd, the Singapore-based sports joint venture, making the venture a 100 per cent subsidiary of Nimbus Communications Ltd. Subject to regulatory approvals, the name of the venture will be changed to Nimbus Sport International Pte Ltd.

The management of the company will remain unchanged, with Digvijay Singh continuing as CEO. Satish Menon joins Nimbus in India as President, Sports and Media, while Thomas Lavenant continues as Head of Events & Sponsor Services and James Rego as Head of Television.

Harish Thawani, the Chairman of the company, said, “I am particularly delighted that the entire management has chosen to stay on with Nimbus. This is a great team that has delivered fabulous results over the past 3-4 years in every part of the world and we look forward to exponential growth as our clients entrust us with bigger responsibilities.”

News Corp-owned GCC has retained the ICC Cricket business with Nimbus, which will continue to exclusively handle worldwide sponsorship sales and services, television and radio licensing in various countries including India, and the world feed television production of the ICC Champions Trophy 2006. Nimbus is also contracted by GCC to handle airtime sales on free TV in India of the ICC Champions Trophy 2006 and the ICC Cricket World Cup 2007.

Digvijay Singh, CEO, said, “We are grateful to News Corp for their continuing faith in our abilities and our commitment to excellence on the ICC business. While the ICC business remains our No. 1 priority, in the coming weeks we shall be announcing a series of new partnerships with federations, broadcasters and sponsors that shall dramatically widen our portfolio of sports assets and services.”

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