Nine Entertainment Co. Holdings (ASX:NEC) said Monday its streaming arm that offer subscription-based video, Stan, agreed to acquire media rights agreements for the Premier League and the Emirates FA Cup from telecommunications provider Optus, effective Aug. 1.
In a separate statement, Optus said Stan will pay AU$20 million upfront and contribute to the first Premier League rights cycle, while Optus will make periodic payments to Nine through 2028.
The company expects the deal to be earnings before interest, taxes, depreciation, and amortization, and cash positive over the life of the agreements.
Optus Sport subscribers will continue to access content via Stan Sport.
Nine Entertainment's shares rose almost 1% in recent Monday trade.
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