Channel Seven Close To New Deal For Aussie Open Rights
Channel Seven Close To New Deal For Aussie Open Rightsepa03317221 General view of the Wimbledon tennis courts in London, Britain, 25 July 2012. Wimbledon, home of the All England Lawn Tennis and Croquet Club, will be used for the Tennis competition of the London 2012 Olympic Games. EPA/MARIUS BECKER |
Seven West Media appears to be set to renew its contract with the Australian Open and according to Australia s Financial review will pay Tennis Australia significantly more than its existing $105 million contract for another five years of exclusive broadcast rights. Channel Seven has broadcast the tournament for the past 40 years.
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The new contract will pay about $30 million a year and will be a five-year contract from 2015-2019
Ten Network Holdings, a competitor of Seven, encouraged Tennis Australia to put the lucrative rights to an open auction. Ten was said to be prepared to pay $45-50 million a year. Tennis Australia had also received a preliminary offer worth about $40 million from an international sports management group, which would have sold the rights to local broadcasters.
Seven sells pay TV rights to Fox Sports Australia and might use its new deal to put more Australian Open content onto its digital channels, as it also telecasts warm up tournaments in Brisbane and Sydney.
Seven’s exclusive negotiating period with Tennis Australia runs until September 30, but an announcement on a new deal is expect much sooner.
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