Could Seven sell Olympics to 10?
Sale of another big ticket item may help Seven with its bottom line.
There is speculation Seven may not broadcast the restaged 2020 Olympic Games next year, with ViacomCBS-backed 10 considered a front runner should that come to pass.
The Sunday Telegraph suggests insiders at Seven West Media say that the COVID-19 crisis coupled with a crashing share price has forced a rethink.
Seven paid $170 million for a multiple rights package back in 2014, starting with Rio de Janeiro in 2016, the Pyeongchang Winter Games in 2018 and ending with Tokyo in 2020.
Broadcasting the Olympics is generally considered a loss-leader in terms of sheer numbers -on top of the rights there are costs involved in mounting the broadcast and putting talent on the ground. However it is a prized marketing platform for upcoming programming, which can help drive months of success.
In March when Seven confirmed it would not be broadcasting the Olympics this year due to the postponement of the Games by the IOC, TV Tonight asked if Seven would continue as broadcaster for 2021?
Seven declined to comment.
10 has also declined to comment on current speculation.