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Nine buys Australian Open rights in major TV shake-up

Update: Tennis Australia boss Jayne Hrdlicka and Nine Network CEO Hugh Marks will hold a joint press conference at 1.45pm.

It’s expected they will announce a broadcast rights deal worth $60 million per year over five years, starting in 2020.

Earlier: FIRST on 3AW

Channel Nine is believed to have secured the rights to the Australian Open tennis.

Macquarie Media has been told Nine Entertainment Co. has made a bid in the vicinity of $55-60 million that will end Seven West Media’s 40-year stranglehold on broadcasting tennis matches.

Media analyst Steve Allen told 3AW there would be major ramifications for Cricket Australia.

Nine has paid big money to own the cricket broadcast rights for several decades.

A tennis deal would mean Channel Nine is no longer in the running for the rights to the cricket, and impact Cricket Australia’s negotiations with other networks.

An announcement is expected today.

It wouldn’t be the only potential financial blow for Cricket Australia today.

Major partner Magellan has terminated its Cricket Australia sponsorship, less than halfway through its three-year deal.

Ross Greenwood told Neil Mitchell is was unlikely a difficult decision for a financial company.

“If you are looking after other people’s money, then surely integrity is vital to your reputation,” he told Neil Mitchell.

If you are synonymous with an organisation that has admitted it conspired to tamper — to cheat — that is not something that you as a sponsor want to be associated with,

Click PLAY to hear more from Neil Mitchell and Ross Greenwood on both business sotries

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