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Kapil Dev Takes Stake In Online Radio Venture Radio Corp; Digital Rights Portfolio

Former Indian Cricketer Kapil Dev is among the investors who have taken an undisclosed stake in Singapore based Internet Radio venture, Radio Corp, owned by Channel 2 Group and id8labs. Radio Corp, reports Indiantelevision.com, plans to raise $30 million in two years, and use the funding to expand its programming portfolio and feature verticals related to cricket, soccer, golf and tennis. Channel 2 is promoted by Dubai based businessman Ajay Sethi. $30 million is a lot of money, and we guess it will primarily be used to acquire rights to sports events. This is something we've seen before, in case of Live Current Media and Global Cricket Ventures, and it has bombed. Cricket Freeq & Radio Corp's Digital Rights Channel 2 has launched an internet radio platform for cricket, www.cricketfreeq.com, an Internet radio service featuring former cricketers Sunil Gavaskar and Clive Lloyd as commentators, and plans to to launch similar Soccer and Golf verticals within this year. Channel 2 Group had partnered with ESPNCricinfo in 2009, at the time of the ICC T20 Championship, and at that time, it had said that it had paid $5 million for the following rights: 1. Radio Broadcast Rights for Middle East till the Year 2015. 2. Internet Rights Globally till 2015 3. Radio coverage via Internet & through Mobile Telephone Systems for Middle East Region till the Year 2015. 4. Radio Rights, Radio coverage via Internet & through Mobile Telephone Systems for United States, Canada & Mexico till the Year 2015. 5. Internet Streaming, Mobile Audio & 3 G…

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