Media

A court in the Swiss town of Zug declared the Swiss sports rights marketing firm ISMM-ISL officially bankrupt on Monday after French media group Vivendi Universal last week withdrew a rescue offer.

Birmingham City, the UK?s Nationwide League soccer club, said it must secure promotion to the Premier League next season to prevent it from financial ruin.

Commercial UK broadcaster Channel 5 has won the rights to show exclusive live coverage of the FIFA Confederations Cup.

Speculation is growing that media giant Kirch is planning to go public following the appointment of an American investment banker as the group?s new chief financial officer.

European media rivals Vivendi Universal and Bertelsmann have unveiled a long-awaited deal to merge their sports rights interests into a European giant worth more than 1bn euros ($876.4m).

Sri Lankan cricket is in financial limbo after a court issued an order preventing the newly appointed interim administration from operating the cricket board's bank accounts.

Former LA Raiders owner AL Davis has lost his $1.2bn law suit claiming the NFL forced them back to Oakland in 1995.

A lack of major sporting events in 2001 compared with last year could be contributing to a fall in advertising revenues for commercial radio and television companies, according to a report.

The BBC could this week win a battle with UK-based pay-TV group BSkyB for the rights to broadcast English international and domestic rugby union matches.

Europe?s leading car-makers met last week in Rome to discuss plans to set up a motor racing competition to rival Formula One.

The International Cricket Council (ICC), the sport's governing body, is to focus on the use of technology for decision making at this week's Playing Committee (CC-P) meeting, taking place from May 23-25.

Racecourse and media group Arena Leisure Plc will close its #85m ($122m) fundraising a week earlier than originally planned, according to UK press reports.

TV broadcaster ABC?s five playoff telecasts have averaged a 1.6 rating, an increase of 14 percent over last season?s first five games.

The International Amateur Athletic Federation (IAAF) will be only marginally affected by the financial collapse of the sports agency ISL, spokesman Giorgio Reineri said on Friday.

Sportal, the troubled UK-based sports internet company, has told sportbusiness.com it has room for ?cautious optimism? over finding an investor to save it from administration.

FIFA has postponed the World Club Championship, set for the end of July, until 2003.