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[Australia Net Noy reported on March 9] As part of the strategy of new CEO James Warburton to reduce debt accumulation and release cash, Seven West Media is preparing to sell broadcast rights for the Big Bash League (BBL).
The Times reported on the 9th that sources revealed that Seven, a subsidiary of Kerry Stokes, had started discussions with Ten Media, a subsidiary of ViacomCBS, which had held the broadcast rights of BBL until 2018. It is understood that as part of the 1 billion yuan deal with Foxtel, 7 News obtained BBL's broadcast rights from ten media nearly two years ago. However, 7 News has stated that the fees paid for obtaining broadcast rights are too high. Excluding the final, BBL's audience fell 10% year-on-year, down 41% from the previous playback played on ten media. The sales of
BBL broadcast rights are one of the challenges Warburton needs to face since joining the company. The advertising market situation has become even more severe due to the spread of the novel coronavirus and the possibility of cancellation of the Tokyo 2020 Olympics, and the advertising market is becoming more severe, and Seven News is looking for ways to reduce debt and repay bank loans.