Beware The 'Experts', page-12

@MarsC here is a decent article about the SilverLake/NZR deal (no paywall for this article): https://www.nbr.co.nz/node/228974

Sky TV hold the NZR/SANZAAR rights up to (and including) 2025. Negotiations for the 2026 - 2030 rights will be done in earnest in 2025.

The likelihood of Sky being able to lock the rights up again without it going to tender were slim anyway. Streaming will be much more prevalent by 2025, and even rural areas will have much better internet solutions by then that allow good streaming. The likes of Spark Sport will be much more evolved by then, having successfully broadcast domestic Black Caps cricket matches and whatever other major sporting contests they pick up between now and then (they will win more rights, make no mistake!).

If SL take 15% then their expertise and influence will be in bringing other suppliers to the table. Amazon, Netflix, DAZN etc to get as big a bidding war as possible.

My feeling is that Sky probably will lose the 2026 - 2030 rugby rights, but whoever wins it will pay way over the odds. Sky won't go down without a fight, and a very big bid will be placed to hold the rights.
SL are going to be focussed on the commercial returns to them, so Kiwi fans will need to brace themselves for a potentially sub par fan experience.

But this is the world we live in : money talks, bullshit walks.

So is SL a threat to Sky? Sort of.

The rights were always going to go out to tender next time (so in that regard SL makes no difference) but SL may well be able to encourage a more heated bidding war than NZR on its own (so in that regard, Hell yes).