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Money Seven and Foxtel nab cricket broadcasting rights in $1 billion deal

08:01  13 april  2018
08:01  13 april  2018 Source:   theage.com.au

Foxtel and Fox Sports merger completed, sharemarket float ahead

  Foxtel and Fox Sports merger completed, sharemarket float ahead News Corp and Telstra have combined Foxtel and Fox Sports Australia with a sharemarket float ahead.News Corp and Telstra have combined Foxtel and Fox Sports Australia into one company, as chief executive Patrick Delany steers the company towards a sharemarket float.

Seven and Foxtel nab cricket broadcasting rights in $ 1 billion deal . Rupert Murdoch’s News Corp-controlled Foxtel will pay for the majority of the rights in a deal that will reshape the broadcast landscape for Australia ’s most popular summer sport.

The Seven Network and Fox Sports have bagged the broadcast rights for Australian home cricket for the next six years, signing a deal worth AUD 1 .182 billion with Cricket Australia .

After four decades, Nine is losing cricket.© AAP After four decades, Nine is losing cricket. Seven West Media will become the free-to-air broadcaster for the next six years of cricket ending Nine’s four-decade stranglehold on the sport, but a large number of matches could be held back for pay-TV in a $1 billion deal to be announced on Friday.

Rupert Murdoch’s News Corp-controlled Foxtel will pay for the majority of the rights in a deal that will reshape the broadcast landscape for Australia’s most popular summer sport.

The new deal will mean Nine is no longer the home of Test cricket, and Ten loses ownership of the Big Bash League rights.

Sources close to the discussions say Foxtel could broadcast One Day Internationals and International Twenty20 games on pay-TV exclusively.

Is this $1 billion cricket deal all it’s cracked up to be?

  Is this $1 billion cricket deal all it’s cracked up to be? After four decades, Nine has lost the broadcast rights to the cricket. But the deal might not be total cause for celebration for new rights holders Foxtel and Seven.The much talked about deal will see Nine end its 40-year association with the game. Nine was reportedly losing more than $20-30 million a year on the cricket and only making a profit when the Ashes series rolls around (they’ll still be broadcasting the upcoming 2019 series). The network has recently taken up partnership with Tennis Australia, snatching the rights from Seven for $60 million a year (against the $40 million Seven was paying).

Channel Nine's four-decade hold on the sport will come to an end with a deal that makes Seven the new home of cricket , while Ten is set to lose its Big Bash League rights as well. Loading.

As it turns out, Cricket Australia has instead opted to award the next broadcast rights package to Foxtel , which lodged a bid with Seven West Media (the Seven Network). The deal , worth just under $ 1 .2 billion for six years, will see Seven have coverage of all Test matches involving Australia

This is a potentially controversial move because these matches are listed on the anti-siphoning list, which keeps certain sporting events available for all Australians on free-to-air networks. Only about a third of Australian households have Foxtel.

Under the deal expected to be announced, it's likely Seven would simulcast the Tests and 43 Big Bash League matches, though it is not expected to get the prized digital rights under the deal.

Seven West Media and Foxtel are the new homes of cricket..© Bloomberg Seven West Media and Foxtel are the new homes of cricket.. Digital rights were a sticking point for some of the free-to-air broadcasters during the negotiations, including Nine and Ten, which had resubmitted a joint bid for five years of cricket totalling $900 million.

Cricket coverage faces major shake-up with Seven and Foxtel winning TV rights battle

  Cricket coverage faces major shake-up with Seven and Foxtel winning TV rights battle Cricket Australia has put a tough couple of weeks behind it with a massive new $1.2 billion TV rights deal, double the value of the previous rights package with the Nine Network.Cricket Australia has put a tough couple of weeks behind it with a massive new $1.2 billion TV rights deal, double the value of the previous rights package with the Nine Network.

Seven and Foxtel nab cricket broadcasting rights in $ 1 billion deal . Don't let anyone else control your time. You won't get it back. Many of the successful leaders I’ve dealt with always seem to have time to do anything that they feel is important.

Cricket Australia CEO James Sutherland has confirmed that Seven Network and Foxtel have secured the sport’s domestic television rights for the next six years.

Seven West Media issued a statement to the stock exchange confirming its bid with Foxtel was successful.

"Contracts are being finalised but are not yet signed," the statement said.

A further announcement is expected this weekend.

A statement from a Nine spokesman said the network was "immensely proud" of its decades long association with cricket.

Nine has future deals to cover the next Ashes series from England and the ODI World Cup in the UK, both in 2019, and men and women's T20 World Cups in Australia in 2020.

“But most of all Nine is excited by our new partnership with Tennis Australia," the spokesman said.

"A partnership that enables us to further evolve our business model into a new future. A partnership built on common values and vision to mutually build the game and Nine's business as we connect with more audiences the way they choose.

“Our focus remains on the cross platform opportunities in front of us and finding the best ways to continue to create value for our shareholders in to the future.”

End of an era confirmed: Foxtel and Seven snatch cricket rights from Nine

  End of an era confirmed: Foxtel and Seven snatch cricket rights from Nine After 40 years of coverage, Channel Nine has lost the broadcast rights to Australia’s iconic summer of cricket, with Foxtel and Channel Seven swooping in with a billion-dollar deal for both international matches and the Big Bash League. The deal is worth almost $1.2 billion over a six-year period, which is more than most predictions stated before the announcement. It will be the first time Seven have been involved in cricket coverage.

Channel Seven along with partner Foxtel signed a six-year broadcast deal reportedly worth (AUD) $ 1 billion , ending Channel Nine's four-decade stranglehold of CA's television rights .

Cricket Australia is poised to sign a $ 1 billon plus broadcast deal with Foxtel and Seven West Media, beating out incumbent partners Network Ten and Nine Entertainment. Under the terms of the deal Seven gain rights to all home Test matches and 43 matches from the Twenty20 Big Bash League

A statement from Network Ten chief executive Paul Anderson expressed his disappointment with the decision.

“We are disappointed that our bid for the cricket television rights was rejected," he said.

“Network Ten turned the Big Bash League into the television phenomenon it is today and one of the most popular sports in Australia, a sport that all Australians were able enjoy for free. We had planned to extend that innovation to other forms of the game," he said.

“Network Ten and our BBL team led by David Barham revolutionised the way cricket is broadcast in Australia and attracted new, younger viewers to the game.

"At the same time, we invested heavily in the Women’s Big Bash League, broadcasting matches in prime time for the first time and raising its profile significantly."

Seven had been blindsided by Nine’s $60 million bid for tennis rights, but this new deal would fill its summer sports schedule.

Nine confirmed to investors it did not have the rights for Australian international cricket from 2018/19 summer.

The statement said it would not impact its fiscal 2018 results, but was "not possible" for it to give an indication of the impact on fiscal 2019.

Foxtel recently said it had taken its bid for cricket off the table after Fairfax Media revealed it had made an aggressive offer.

Comment: Ten's new owner flunks first big test, but how much will it hurt? .
CBS flunked its first big test in Australia, but it could be a blessing in disguise.It was the first big test for Network Ten's new owners, CBS.  And they flunked it.

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