ISMM, the near-bankrupt sports marketing agency which is responsible for selling the broadcasting rights to the next two World Cup competitions, has been given a reprieve with the news that French media group Vivendi plans to acquire the business.
Vivendi has one month to finalise the acquisition – expected to be worth around €100 million – before the Swiss authorities close ISMM down. In the meantime Vivendi has agreed to inject cash into the business to keep it running.
Analysts at ABN Amro say that the move is in line with Vivendi’s strategy of building a sports franchise. It already owns Sport+, which in turn holds the rights to a selection of domestic European football games.
ABN says that it is hoping to launch a sports channel and is working with Bertelsmann as a free to air partner, along with sports rights specialist JC Damon.
