Brissy Bulldog
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AFL rights: Seven and Ten trump Nine
January 5, 2006 - 12:27PM
Channels Seven and Ten have officially stumped up the extra $20 million a year needed to secure the AFL television rights for 2007-2011.
Both channels announced to the stock exchange this morning that their consortium had matched Channel Nine's $780 million offer accepted by the AFL almost a fortnight ago.
"Ten and Seven will match the offer made by Publishing and Broadcasting Limited to the Australian Football League including the consideration, namely $780 million ($87.5 million of which is contra) over five years, with such consideration to be shared between Ten and Seven based on match allocations across all television media,'' they said.
Ten and Seven said they will allocate rights to all games and will further define the allocation and scheduling of matches, including the finals and grand final, with details to be released in the coming months.
Seven Network Limited executive chairman Kerry Stokes said in a statement that the network was "pleased to be back in football.
"We have made great advances in news and public affairs, breakfast television and prime-time (programs) over the past 18 months and can't wait for football to be back on Seven in 2007."
Channel Ten executive chairman Nick Falloon said: "Since acquiring the rights in 2001, AFL has become an important feature of Ten's schedule.
"We are excited about continuing our successful AFL relationship for seasons 2007-2011."
Seven and Ten's original bid for the AFL rights was $740 million, but PBL made the higher offer of $780 million on December 23.
It was the last business decision made by media mogul Kerry Packer, who died three days later on Boxing Day.
The AFL has yet to respond to the announcement.
January 5, 2006 - 12:27PM
Channels Seven and Ten have officially stumped up the extra $20 million a year needed to secure the AFL television rights for 2007-2011.
Both channels announced to the stock exchange this morning that their consortium had matched Channel Nine's $780 million offer accepted by the AFL almost a fortnight ago.
"Ten and Seven will match the offer made by Publishing and Broadcasting Limited to the Australian Football League including the consideration, namely $780 million ($87.5 million of which is contra) over five years, with such consideration to be shared between Ten and Seven based on match allocations across all television media,'' they said.
Ten and Seven said they will allocate rights to all games and will further define the allocation and scheduling of matches, including the finals and grand final, with details to be released in the coming months.
Seven Network Limited executive chairman Kerry Stokes said in a statement that the network was "pleased to be back in football.
"We have made great advances in news and public affairs, breakfast television and prime-time (programs) over the past 18 months and can't wait for football to be back on Seven in 2007."
Channel Ten executive chairman Nick Falloon said: "Since acquiring the rights in 2001, AFL has become an important feature of Ten's schedule.
"We are excited about continuing our successful AFL relationship for seasons 2007-2011."
Seven and Ten's original bid for the AFL rights was $740 million, but PBL made the higher offer of $780 million on December 23.
It was the last business decision made by media mogul Kerry Packer, who died three days later on Boxing Day.
The AFL has yet to respond to the announcement.
