Interesting article just now in the Herald Sun. Main section:Broadcast partners Channel Seven and Foxtel are pushing for a reduction of about $150 million on their 2020 payments because of a season heavily compromised by the COVID-19 crisis.
Discounts of about $40 million for 2021 and 2022 are also being sought, while a proposed two-year extension for seasons 2023 and 2024 now appears unlikely.
I would be staggered if they got $150 million cut, but that number keeps getting reported so could be on the market. That would be shared between Seven and Foxtel. Still think the deal will end up potentially be a $50M saving for Seven in 2020, and 20m each in 2021 and 2022.
Deal seems to be getting close, so an announcement is probably only a couple of days away - still hoping it's either Friday or next week.
Interesting article just now in the Herald Sun. Main...
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