Zee rejects plan for fresh bids, demands rights for $260m
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MUMBAI, SEPTEMBER 14: Zee TV has refused to accept the Bombay High Courtâs suggestion to call for fresh bids for cricket telecast rights, setting the stage for a legal battle.
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BOMBAY: A controversial $308-million deal to broadcast India&#39;s home cricket matches fell through yesterday after the country&#39;s cricket board said there was no binding contract and it may re-tender the rights.
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Mumbai, Sep 21 (PTI) In a new turn to the legal wrangling over the telecast rights of Indian cricket team&#39;s matches at home in next four years, the cricket board today told the Bombay High Court that it had cancelled the tender awarded to Zee Telefilms
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â¢ Cricket-Zee poised to bag lucrative Indian TV rights September 5, 2004 13:24:17 MADRAS, India, Sept 5  - India&#39;s cricket board is set to sell its lucrative television rights to Zee Network, the country&#39;s biggest listed media company, for $308
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BOMBAY: Indian cricket&#39;s record sale of television rights for $308-million was put on hold yesterday after a court proposed a re-bid following objections from the sports network which missed out, a report said.
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In a new twist to the telecast-rights battle, the Bombay High Court has observed that technically both Zee Network and ESPN-Star Sports would not be qualified to get the rights.
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ESPN-Star Sports, who lost the bid to telecast international cricket played in India over the next four years, have challenged the Indian board&#39;s decision to award the rights to Zee Network in the Mumbai High Court.
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NEW DELHI: A Zee official told TOI, &quot;Our message to all those who are trying to unlawfully take the rights that we had won is - lay off our rights or be prepared to pay the price.
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Mumbai, September 22: A row over TV rights, which threatens a test series next month with world champion Australia, is heading back to court after jilted broadcaster Zee Telefilms filed a petition in the Supreme Court on Wednesday.
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Zee Telefilms Limited, the country&#39;s largest listed media firm, plans to appeal to the Supreme Court against a cricket board decision to ask two rival channels to broadcast the home test series against Australia, its lawyer said on Friday.
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Sri Lankaâs government rejected a Tamil Tiger offer to abide by the terms of a newly scrapped 6-year ceasefire.
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Vodafone Group on Monday denied a newspaper report it is considering making a $160 billion bid for its U.S. partner in the wireless phone business, Verizon Communications.
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Yahoo&#39;s board of directors plans to reject&#160;Microsoft&#39;s unsolicited $44.6 billion takeover bid,&#160;The Wall Street Journal reported Saturday, citing as its source &quot;a person familiar with the situation.&quot;According to the report, the source said the Yahoo board has determined that the $31-per-share offer &quot;massively&#160;undervalues&quot; the online services company. In addition, Microsoft&#39;s buyout bid doesn&#39;t take into consideration the business risks that Yahoo would be taking if it entered into an agreement that in the end might not be approved by government regulators, the source told the Journal.According to the Journal, Yahoo&#39;s board intends to send Microsoft a letter on Monday, detailing its position.A Yahoo spokeswoman declined to comment on the report today. &quot;We are not providing details on the board&#39;s review process,&quot; she wrote. &quot;Yahoo&#39;s board is carefully and thoroughly evaluating the Microsoft proposal in the context of all of the company&#39;s strategic alternatives, and will pursue the best course of action to maximize long-term value for shareholders.&quot;Microsoft, which announced its offer for Yahoo on Feb. 1, couldn&#39;t be reached for comment today. The offer is a combined cash-and-stock deal; in announcing the bid, Microsoft said Yahoo shareholders could choose to receive either cash or Microsoft stock, although it added that the total consideration would be equally split between the two forms of payment.Yesterday, published reports said that Yahoo&#39;s board was meeting to discuss the offer.Yahoo is still evaluating other options,&#160;including a search advertising partnership with Google, according to today&#39;s report by the Journal. It also may still be open to a longer negotiation with Microsoft: The Journal said it was told by the source that Yahoo would be unlikely to consider any offers below $40 per share.If so, that would require Microsoft to raise its original offer by at least 29 percent, or about $13 billion. In other words, the cost for Microsoft to become a more credible rival to Google in the search and online advertising markets could start at about $57.6 billion.Google has been doing what it can to scuttle the Microsoft takeover bid, including playing the antitrust card by asking, in a blog post by one of its executives last Monday, whether Microsoft might &quot;attempt to exert the same sort of inappropriate and illegal influence over the Internet that it did with the PC?&quot;Microsoft quickly shot back, issuing a statement saying that a combination of it and Yahoo merger would &quot;create a more competitive marketplace.&quot;(Eric Lai contributed to this story.)Computerworld is an InfoWorld affiliate.
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The London Stock Exchange said it had rejected a Â£1.3bn takeover bid from Deutsche Boerse but held the door open to talks that could result in a deal with the German exchange.
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Sept 16: Cricket authorities will seek a clarification from the court whether they can prepare a contingency plan if the dispute between Zee Telefilms and ESPN-STAR is not resolved soon.
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Zee Telefilms has opened yet another flank in its legal battle with ESPN-Star Sports over the issue of cricket telecast rights for the next four years.
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The company rejected a takeover offer from its founder, but said that it planned to explore other alternatives.