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AUSTRALIAN TV RIGHTS FOR '96 GAMES GO FOR $30M
Published February 9, 1995
ACOG announced a $30M deal with Australian broadcaster Seven Network for the TV rights to the '96 Games. Billy Payne, ACOG President says the deal is "an important step forward." The deal leaves Japan as the only major country yet to finalize a TV rights deal with ACOG. Organizers expect the Japanese rights, along with some smaller countries, to yield "slightly more than" $100M. ACOG gets 60% of that money. Yesterday's agreement was a joint deal, as Seven Network also acquired the rights for the 2000 Games in Sydney. The total cost for both games was $75M. Seven Network paid $34M to televise the Barcelona Games, but immediately went into receivership. IOC negotiators "conceded that Seven Network had probably paid too much for the rights" (Melissa Turner, ATLANTA CONSTITUTION, 2/9).