| MUMBAI:
The Times of India Group will acquire a small ownership stake in Nimbus Communications
and its associate company, Neo Sports Broadcast.
Under
the contours of the deal, Nimbus and Neo Sports will leverage the various media
vehicles across the Times Group to advertise its sports and broadcasting businesses.
Nimbus,
which recently announced a multi-year, multi-event deal with Asian Tour Golf,
and Neo Cricket plan to utilise the various Times media vehicles to advertise
and market these events. The Times media vehicles offer a platform for events
such as the US PGA Tour Golf, Bundesliga, Seria A football and such other premium
properties which are broadcast by Neo Sports. Says
Nimbus vice chairman Dr. Akash Khurana, "This alliance with the Times of
India Group provides a unique opportunity for drawing on strengths and synergies
between the organisations. Our businesses are at inflection points and this deal
will help us strengthen and accelerate growth in market shares and revenues of
our businesses". Adds
Times Group CEO Ravi Dhariwal, "This is a unique investment in the media
sector for us. We feel that we can contribute strongly to Nimbus’ and Neo
Sports’ growth through our leadership position and our strong reach across
media platforms in multiple markets. Their leadership position in sports rights,
production and sports broadcasting is well known and we hope to enhance the momentum
of their growth story." | 
