BackNimbus threatens to opt out of cricket coverage deal
Nimbus threatens to opt out of cricket coverage deal
Premium
New Delhi: A private Indian television company has threatened to pull out of a US$612 million ( ₹ 2,706 crore) deal signed with cricket authorities a year ago to broadcast matches played in India until 2010, a news report said on 6 March.
The move by Nimbus Communications came after the government in February made it mandatory for private broadcasters to share with state-run television the live feed of sports events for terrestrial broadcast.State-run television is offering a 75:25 revenue sharing agreement in favour of Nimbus.
Nimbus wants state-run television to encrypt the live feed to avoid the signals being picked up by broadcasters outside India, to avoid a financial loss.The Board of Control for Cricket in India has received a notice from Nimbus threatening to cancel the deal, an unidentified official was quoted as saying.
The cricket authorities are expected to take up the issue with the government.In 2006, Nimbus was chosen as the cricket board’s television production partner for all matches to be played in India until 2010.
Nimbus launched a “Neo Sports" television channel in 2006 to broadcast live the cricket matches.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
