Business

Apr 13, 2018

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.

Glenn Dyer — <em>Crikey</em> business and media commentator

Glenn Dyer

Crikey business and media commentator

The two weakest members of Australian broadcast media -- Kerry Stokes’ Seven West Media and the Murdoch family’s newly merged Foxtel/Fox Sports -- will add more than $200 million a year to their already high-cost bases in winning the new cricket broadcast deal with Cricket Australia.

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 right from Seven for $60 million a year (against the $40 million Seven was paying). More importantly, the $60 million will be less than the $80 million that Nine was paying Cricket Australia. 

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