Nimbus cited the withdrawal of a number of star players from the tournament as the reason for its pulling out. It said it would no longer produce, broadcast or bring in sponsorship for the event.
He said it is no longer viable because there is very little public interest in the absence of big names.
Stars including Sachin Tendulkar, Rahul Dravid and Muttiah Muralitharan have all pulled out from the Asian side for the three-match series, set to start in Bangalore next week and continue in Madras.
The Asian Cricket Council is still hoping the series will take place, with the ESPN-Star network possibly taking over the TV coverage and marketing.
