The Hindu : Sify ups stake in Wisden Cricinfo

Online edition of India's National Newspaper
Tuesday, Feb 25, 2003

Business

Business

Sify ups stake in Wisden Cricinfo

By Our Special Correspondent

CHENNAI, FEB. 24. With the coming together of Cricinfo and Wisden, cricket's best known online businesses, Nasdaq-listed Internet company Sify has upped its stake in the newly created post-merger entity Wisden Cricinfo.

Sify, it may be recalled held a stake of 25 per cent in Cricinfo. Its holding in the newly formed Wisden Cricinfo will be 33 per cent. A release from Sify claimed that its holding would go up to 33 per cent in the wake of the merger of the two cricketing portals and following payment of an additional 300,000 Pounds Sterling by it.

The release did not, however, explain as to who the payment was made and how the holding was increased. The release also claimed that Cricinfo would repay Sify the 1.6 million pound sterling it had taken as loan from the latter. It is not clear if this loan amount is adjusted against the payment that Sify has made to up its stake in the merged entity.

According to the release, the merger would result in the creation of single website, comprising quality contents from both Wisden and Cricinfo.

The combined site, the release claimed, would be the world's largest and cricket's most comprehensive site.

The global user base of the bloated entity would be in the vicinity of 19 million.

The release said that access to most of the contents would remain free. The subscription services of both Wisden and Cricinfo would be retained at the moment until the launch of a new subscription service later this year.

R.Ramraj, Managing Director of Sify, said, "Sify is proud to be a part of the team that turned Cricinfo into a cash profit operation with revenue leadership in cricket space.''

He was hopeful of an unmatched service from the two most strategic and recognised names in cricket and online cricket.

The two entities have operations in the U.K., Australia, India, Pakistan, New Zealand, Sri Lanka and South Africa.

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