Market Chatter: Nine Entertainment Faces Rival Bid From Foxtel for NRL Coverage, AFR Reports

MT Newswires Live

Jun 01

Nine Entertainment (ASX:NEC) is facing a rival bid from competitor Foxtel for the National Rugby League's (NRL) streaming rights, as Foxtel has pitched for all the NRL rights, according to a Monday report by the Australian Financial Review, citing two people with knowledge of the negotiations.

Foxtel has also spoken to Seven and Ten television networks about them broadcasting some of the games on free-to-air, the report added.

Foxtel, which is a unit of UK-listed DAZN Group, will remove the Nine Network as an NRL broadcaster if its strategy succeeds, the report added.

Foxtel cannot make a bid for NRL rights alone due to Australia's anti-siphoning laws, which are designed to prevent popular sports events from becoming entirely paywalled or fee-based, the report added.

AFR added that the NRL is currently divided between the free-to-air Nine Network and Foxtel until the end of the 2027 season.

Nine did not immediately respond to MT Newswires' email request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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