Seven, Foxtel pay $1.2bn on cricket rights

The Seven Network and Foxtel have won the bidding war for cricket's TV rights, paying almost $1.2 billion and ending the four-decade relationship between the sport and the Nine Network. Seven West Media confirmed on Friday that it and Foxtel had won the rights to Australian international cricket matches, with contracts being finalised by the afternoon. Cricket Australia says the deal is worth almost $1.2 billion over six years. Seven's share is $450 million over the period, with Foxtel paying the balance. Conceding defeat, Nine said it is "immensely proud" of its long association with the sport and wished Cricket Australia (CA) and its new broadcast partners well, while CBS-owned Ten said it is disappointed that its bid had been rejected. Nine said while it would not have Australian international matches from next summer, the rights loss would have no impact on its 2018 financial results. The network said it could not indicate whether there will be an impact on its results in 2019. After dropping in early trade Nine shares were one cent higher at $2.26 at 1348 AEST but Seven West shares were 10.1 per cent higher at 56.75 cents. Under the deal it is expected Foxtel will have exclusive rights to some Big Bash League (BBL) matches while simulcasting tests and limited overs matches. Nine's loss of cricket comes after it won Australian tennis broadcasting rights in a $300 million coup, ending Seven's four-decade hold on televising the Australian Open.