In 1999, Peter Sprogis, a former professional basketball player, had started Prisma iVentures (PiV), a venturing unit of Prisma Sports & Media, to leverage the sports rights it owned over new technology channels such as interactive television, Internet and mobile telephony. With only two start-ups under its belt, WorldZap and Global Interactive Gaming (GIG), PiV was in April 2002 faced with a clear and present danger: its principal funder, the Kirch Group of Germany and its KirchMedia division, was in deep financial trouble, and had stopped all funding for GIG in the previous month. While he was able to provide a lifeline to WorldZap, GIG and PiV were now possibly minutes away from the terminal blow. Could he get the Kirch Group to agree to the latest proposal from ISW to salvage GIG? Was there another route to prevent this company from joining Kirch in its descent into hell?
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