Are the IPL's Internet and Mobile rights holders jinxed, or is it just a bad business to be in? Elephant Capital has decided to exit its investment in Global Cricket Ventures, a company that was the exclusive licensee of the online and mobile rights for the Indian Premier League. The fund plans to sell its 47.06% stake in GVC for GBP 1.934 million (31 August 2010), compared to the GBP 5.949 million it paid for the shares, thus taking a write down of GBP 4.015 million. Global Cricket Ventures had sublicensed rights from World Sports Group, and with the BCCI rescinding its deal with WSG, GCV was affected as a result. The big question, though, is: What does GVC have to sell, if it doesn't have the rights? Global Cricket Ventures' Cup Of Woes MediaNama readers will recall that GVC…
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