MAM
Major League Cricket raises $120 mn funding, Microsoft CEO Satya Nadella among lead investors
MUMBAI: Microsoft CEO Satya Nadella is the leading investor in the $44 million Series A and A1 fundraising round by New York-based Major League Cricket (MLC), a T20 competition featuring six franchises that have been sanctioned by USA Cricket. The league is targeted to launch next year.
With an additional commitment of $76 million in further fundraising over the next 12 months in place, MLC plans to deploy more than $120 million to launch the country’s first-ever professional Twenty20 cricket league and herald a new era for the world’s second most popular sport in the US, according to a press statement issued by MLC on Wednesday.
“The significant funding committed by an outstanding group of investors will allow Major League Cricket to build first-class facilities and accelerate the sport’s development across the country, bringing world-class professional cricket to the world’s largest sports market,” MLC co-founders Sameer Mehta and Vijay Srinivasan said in a joint statement.
“This investor group comprises leading business executives and successful tech entrepreneurs who have led some of the world’s most prominent companies. They bring tremendous experience and expertise in support of MLC’s plans to launch a transformative Twenty20 league and establish America as one of the world’s leading homes for international cricket events,” it further added.
The other investors for MLC include the likes of Adobe CEO Shantanu Narayen, Madrona Venture Group managing director Soma Somasegar, founding partners at Milliways Ventures and Rocketship VC Anand Rajaraman and Venky Harinarayan, chairman of Infinite Computer Solutions Zyter Sanjay Govi and Perot Jain managing partner Anurag Jain, among others.
MAM
Sameer Nair steps down as CEO of Applause Entertainment
Veteran media executive exits after a decade at the Aditya Birla Group-backed studio.
MUMBAI: After a decade of calling the shots, Sameer Nair is taking a bow from Applause Entertainment. The veteran industry leader and CEO of the prominent content studio is stepping down from his role, according to sources familiar with the development. This marks a significant leadership transition at one of India’s key players in the television and digital content space.
Applause Entertainment, part of the Aditya Birla Group, has built a strong reputation under Nair’s leadership for its high-quality adaptations of international formats and a slate of original series across OTT platforms. Nair, who joined the company a decade ago, was instrumental in shaping its growth and positioning it as a notable force in India’s evolving streaming landscape.
Prior to Applause, he held senior roles at major media organisations, including Star India, where he played a pivotal part in the launch of the iconic show Kaun Banega Crorepati in 2000. He also worked with Balaji Telefilms and NDTV Imagine.
It remains unclear who will succeed Nair or what his next professional move will be. Queries sent to Nair did not receive a response, and Applause Entertainment declined to comment on the matter.
His exit comes at a time when the Indian content ecosystem is undergoing rapid changes, with streaming platforms recalibrating investments, focusing on profitability, and adjusting content strategies amid shifting viewer preferences and increasing competition.
Industry insiders suggest the transition could signal a strategic reset for Applause as it navigates the next phase of growth.
In the fast-paced world of Indian entertainment, where hits can fade as quickly as they rise, Sameer Nair has enjoyed a remarkably steady and influential run. As he steps off the stage at Applause, the spotlight now turns to what comes next for both the executive and the studio he helped build.
