Prasar Bharati, WSN reach agreement on terms for ICC cricket telecast

MUMBAI/NEW DELHI: Prasar Bharati has agreed to accept a third-party guarantee for minimum revenue from Nimbus Communications Ltd for the ICC cricket matches to be telecast on national broadcaster Doordarshan.

Doordarshan has bagged the terrestrial telecast rights after negotiations with World Sport Nimbus, a joint venture between World Sport Group and Harish Thawani's Nimbus Communications.

Though some doubts were raised initially, the decision was taken because of the legal validity of a third party giving the bank guarantee and the top honchos of Prasar Bharati decided to accept the offer. After all a bank guarantee is a bank guarantee.

The guaranteed payout varies depending on whether the cricket match is classified as A, B or C. But the average MG works out to between Rs 9 and 10 million. The per match MG varies between a low of Rs 7.5 million to a high of 15 million.

As per the agreement that was signed, Nimbus Communications and not WSN will issue a bank guarantee to DD for their share of the revenues. The escrow account will be used and reciprocal jurisdiction will apply.

However, Prasar Bharati has referred a clause of the contract between it and WSN to the I&B ministry for an opinion.

The contract with WSN stipulates that in case of any arbitration, it will take place in London under the rules of ICC. Prasar Bharati has been insisting that any arbitration, if necessary, should be done under the Indian laws and as per the Arbitration Act of the country.

"We have sought the ministry's advise on the issue and whether Prasar Bharati should insist on its stand on arbitration in India as per Indian laws, or agree to the offer of having the arbitration settled in London under ICC rules and regulations," a senior Prasar Bharati official said. The advise from I&B ministry is still awaited.

Latest Reads
Star Bharat leads Hindi GEC (U+R) in week 2 of BARC ratings

MUMBAI: Star Bharat emerged as the leader in the Hindi GEC (U+R) genre dethroning Zee Anmol according to Broadcast Audience Research Council (BARC) all India data for week 2 of 2018.

Television TV Channels Viewership
BARC week 2: Aaj Tak leads Hindi News in all three markets

MUMBAI: Republic TV continues its leading streak in the second week of the year as well in BARC All India ratings. News Nation stays in the top five chart in week 2 of 2018 in Hindi News Rural market. Aaj Tak tops the chart again in Hindi News Urban market.

Television TV Channels Viewership
Dsport acquires India rights of tri-nation tournament in SL

Discovery’s sports channel Dsport has acquired the exclusive India broadcast rights of Nidahas Trophy 2018, a tri-nation international T20 tournament involving India, Sri Lanka and Bangladesh. The transaction was facilitated by Lagardère Sports, the global marketing consultant of Sri Lanka Cricket...

Television TV Channels Sports
Pittie Group launches news portal

Pittie Group has launched LatestLY its new portal for trending stories across categories like world news, politics, sports, entertainment, lifestyle,technology, automobile etc. It is being developed as the go-to platform for anybody wanting a complete understanding of trending stories.

Television TV Channels News Broadcasting
Catch Rekha's stellar performance in 'Biwi Ho Toh Aisi' on Sony MAX2

MUMBAI: Rekha’s fans are in for a sweet surprise this week as India’s iconic Hindi movie channel from Sony Pictures Networks, Sony MAX2 is all set to air classic movie Biwi Ho Toh Aisi. A light-hearted family drama stars Bollywood legends Farooq Sheikh and Rekha in lead roles and marks the debut...

Television TV Channels GECs
The seasonal show saga on Indian GECs

MUMBAI: Daily soap operas, with an infinite number of episodes, is the unique feature of India’s TV entertainment offering. From the era of a single national broadcaster to today where you can pick from a plethora of general entertainment channels (GECs), times have surely changed. What is slowly...

Television TV Channels GECs
Star ushers in IPL's new era with a bang

Star India is all set to reinvent the Vivo Indian Premier League (IPL) 2018 by increasing fan-engagement levels and bringing the sporting spectacle even closer to cricket fans across the country. The broadcaster’s press conference in Delhi today started with Sophia, a robot, in conversation with...

Television TV Channels Sports
Zeel numbers up on higher ad revenue in third quarter

The Subhash Chandra led Indian television network Zee Entertainment Enterprises Limited reported 11.5 percent and 28.3 percent increase in consolidated total revenue and profit after tax (PAT) respectively for the quarter ended 31 December 2017 (Q3-18, quarter under review) as compared to the...

Television TV Channels GECs
Ramdev wants telecast fees waived off for devotional channels

Baba Ramdev today took a shot at the government for imposing high tax on telecasting devotional TV channels.

Television TV Channels People

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories