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SBD Global/May 24, 2013/Media
Australian Seven West Media Wins Domestic Rights To Top Football Matches
Published May 24, 2013
TOUGH DECISION: Also in Melbourne, Robert Craddock wrote Channel Nine CEO David Gyngell "faces one of his biggest calls after being advised by key shareholders to drop out of the bidding for Australian cricket rights." Gyngell's sentimental link to Nine's 36-year hold on the rights "has become the pivotal factor of the final days of a protracted bidding war between channels Nine and Ten." Two U.S.-based hedge funds that are Nine's key shareholders believe that "the station should withdraw from the bidding" rather than match Ten's A$500M bid for the rights to int'l and domestic cricket. Such has been the ferocity of the bidding war that the station who gets the rights "will make a substantial annual loss, though the promotion of other programs and the status of being the national cricket broadcaster is significant compensation" (HERALD SUN, 5/24).