CALIFORNIA: Cavalcade of Sports Media has announced that it has acquired Ethnic Broadcasting Company (EBC) and completed the second phase of its organisational restructuring. EBC broadcasts ethnic, minority programming in the US. The acquisition also includes the US affiliation with The Bollywood Channel and the joint venture between EBC and OASIS, the Oriental & African Strategic Investment Services Limited, for the structuring and financing of The Bollywood Channel.

While announcing the acquisition, President of Cavalcade Edward Litwak stated: "This completes the second phase of Cavalcade's structural reorganisation. We have now split the broadcasting into two separate divisions, one for the nostalgic sports programming and one for the ethnic programming," He also added, "We are extremely pleased to have acquired the U.S. affiliation for the programming of The Bollywood Channel and the relationship with OASIS. We will be meeting with OASIS to finalise the joint venture's plans. This will permit OASIS to move forward with their investors and the Bombay-based content providers. At the same time, we expect to complete the negotiation of two related acquisitions and complete the management structuring of The Bollywood Channel."

Last month, the company had announced that it would be expanding its business plan by dividing the Companys operations into two divisions. One division would be the historical nostalgic sports programming, which also happens to be the Company's forte. The new division will provide ethnic, minority programming in selected markets. The new division has been in development for several months.

Cavalcade of Sports Media is a developmental stage company engaged in the nostalgic sports entertainment business. Its goal is to broadcast nostalgic sports content 24 hours a day, 7 days a week, to cable and satellite providers as a digital network programming provider. The Cavalcade library includes vintage sporting events and coverage dating back to the 1940's, with 10,000 hours of programming available to the company.