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Board of Hindustan Media Ventures approves ownership of new IPL team

Capital Market 

At meeting held on 24 October 2021

The Board of Hindustan Media Ventures at its meeting held on 24 October 2021 has accorded approval to participate in the tender pursuant to the Board of Control for Cricket in India's (BCCI) Invitation To Tender (ITT) for the right to own and operate one of two proposed new IPL teams through its 100% subsidiary along with required tender deposit. Actual commencement of the new business line through a 100% subsidiary company, will depend on the outcome of the bidding process. The Board of Directors feels that it will be good diversification for the Company & will help optimize the media assets of the Company

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, October 25 2021. 16:15 IST