Australia's Seven Only Local TV Provider Showing Interest In Next Three Olympics
Australia's Seven Network is the "only local television company to lodge an expression of interest" with the IOC for the rights to broadcast the next three Olympics, according to Jake Mitchell of THE AGE. Preliminary bids were "due last week for the broadcast rights" to the 2016 Games in Rio, the 2018 Winter Games in PyeongChang, South Korea, and the 2020 Tokyo Games. The IOC is "understood to have originally wanted" about A$230M ($213M) for the three Games but "expectations have been tempered by the metropolitan free-to air networks" -- Seven, Nine Entertainment Co. and Ten Network Holdings. Industry sources said that for the networks, a price of more than A$150M would "likely make the games broadcasts unprofitable, although premium sport offers the opportunity" for networks to promote the rest of their schedules. Nine and Ten have not "ruled themselves out of the process by not participating in the expressions of interest." Pay-TV provider Foxtel also "did not bid, but is likely to pick up parts of the Games from the successful free-to-air bidder" (THE AGE, 4/29).