By Stuart Condie
SYDNEY–Seven West Media Ltd. said it will save 50 million Australian dollars (US$34.1 million) in various annual costs after negotiating a new cricket broadcast agreement on reduced terms.
Seven West on Tuesday said that it had reached agreement with Australian cricket’s governing body for a new seven-year deal through the sport’s 2030-31 season. Seven West said that it will pay A$65 million in rights fees annually from 2024, which represents a 13% reduction on its current deal.
Seven West said that it and Cricket Australia had agreed to end a legal dispute over their current deal, which expires in 2024 and which Seven West had said it wanted to terminate.
Write to Stuart Condie at stuart.condie@wsj.com
S&P 500 faces resistance at 4100 and finds support around 3700.
Dow Jones Newswires is a market-moving financial and business news source, used by wealth managers, institutional investors and fintech platforms around the world to identify trading and investing opportunities, strengthen advisor-client relationships and build investor experiences. Learn More.
Visit a quote page and your recently viewed tickers will be displayed here.
