Seven & Foxtel Snare $1B Cricket Rights From Nine
For the first time in nearly forty years, Nine Network has lost the media rights for Cricket Australia, this time scooped up by Seven and Foxtel for a $1 billion deal over six years.
Pay-TV provider Foxtel is expected to have exclusive rights to some Big Bash League (BBL) games, whilst simulcasting various other matches. As such, Ten has lost its BBL rights.
In an ASX announcement, Seven Media affirms a deal has been confirmed, but not yet signed.
The news comes after Seven Media recently lost its tennis rights to Nine, over a $300 million deal.
Nine Network still retains the rights to Cricket Australia’s next Ashes tour. Nine affirms cricket will still remain a part of its schedule, with discussions to cover the upcoming ODI World Cup and T20 World Cup.
In an ASX announcement, Nine affirms the loss of cricket rights will not impact full-year results:
“This will have no impact on NEC’s [Nine’s] FY18 results. It is not possible for NEC to give an indication of likely impact on FY19 at this time”.
According to Mumbrella, Foxtel is expected to contribute the most, with Seven paying just under $80 million per year.
CBS-owned Ten has expressed disappointment its bid was rejected.