wordpress blog stats
Connect with us

Hi, what are you looking for?

Champions League T20 Cancelled; Impact On Live Current Media?

Live Current MediaMonetization will be delayed for Global Cricket Ventures: the JV between NASDAQ listed Live Current Media and Net Link Blue holdings has been hit by a rather unfortunate development – the inaugural Champions League T20 2008 has been cancelled, and inaugural tournament will now be played in October 2009. The tournament, which was scheduled to be begin on December 3rd, was indefinitely postponed following the terrorist attacks on Mumbai on the 26th of November 2008. 

Do bear in mind that Global Cricket Ventures had not paid any Minimum Guarantee (MG) to the BCCI or the IPL for the tournament, and the revenue was to be split evenly between GCV and The Champions League. Still, the cancellation of this years event does mean a significant loss of opportunity for GCV…the next opportunity for revenues from the IPL will be during its second season, which is tentatively scheduled to be held from April 10 to May 29, 2009. 

Live Current Media was also expected to receive a tranch of investment by around the first week of December; there’s no update from the company on that yet.

Note: Live Current Media President Jonathan Ehrlich and Chief Revenue Officer Alex Chamberlain were among the survivors from the terrorist attack on the Taj in Mumbai. Read about Ehrlichs escape here or watch the video here. An interview with Chamberlain here

Related: In Dire Straits, Live Current Media Raises $2 Million; No MG for CLT20

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

News

Minister of State for Finance Anurag Singh Thakur, who is also a former president of the Board of Cricket Control in India, on Thursday...

News

The Indian government has amended the internet shutdown rules, formally known as the Temporary Suspension of Telecom Services Rules, to restrict the validity of...

News

In a significant step in its sports ambitions, Amazon Prime Video has picked up the India streaming rights for New Zealand cricket until 2025/26....

News

Once again, a high court has ruled in favour of Dream11 and stated that the fantasy gaming company offers a game of skill, and...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ