Sydney: Australia's Ten Network television has offered Cricket Australia Aus$500 million (US$505 million) in cash for coverage rights over the next five years, sparking a legal battle, reports said on Friday.
The bid is well above the $45 million Nine Network has paid annually over the last seven years for international matches and the $12.5 million FoxSports Australia has paid for the Big Bash T20 tournament and other domestic games.
The Australian Financial Review said free-to-air channel Nine, which has broadcast live cricket since 1977 as Kerry Packer built his television empire on international coverage, has four weeks to match the offer.
However, negotiations between Cricket Australia and Nine have broken down and the ruling body has filed a writ against the network, Fairfax Media reported. The Sydney Morning Herald said it was believed Nine is willing to match the offer made by fellow free-to-air station Ten, one of whose major shareholders is Packer's billionaire son James....more
08:12 AM, May 10, 2013