Rupert Murdoch’s News Corp is reported to be close to buying a substantial stake, almost a third, in Nimbus Communications for upwards of Rs 400 crore.
Any deal would mean that News Corp would get access to Indian cricket rights, which News Corp’s ESPN STAR lost to Nimbus in a bidding war earlier this year.
Nimbus is expected to announce a distribution deal with Star, which is being seen as a precursor to this equity deal. Nimbus is launching a bouquet of three channels, called NEO SPORTS, which will be part of the Star bouquet.
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