Business Standard

Nimbus close to buying TV channel

Image

SONALI KRISHNA Mumbai
Nimbus close to buying TV channel
SONALI KRISHNA / Mumbai March 27, 2006
After acquiring the four-year global media rights for telecasting Indian cricket for a whopping Rs 2,700 crore, Nimbus Communications is now close to acquiring a regional TV channel in partnership with a foreign broadcasting major. The announcement is just weeks away.

According to sources close to the developments, Nimbus will buy out the promoters of a regional television company in which the foreign major will pick up a sizeable stake.

Further details of the deal have been kept under wraps. The sources added that the move was a departure from Nimbus

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 27 2006 | 12:10 AM IST

Explore News