Nine Entertainment has lost $172 million in a matter of days after its share price tanked following Stan Sport’s mega new Premier League deal.
Streaming platform Stan Sport, which is owned by Nine, agreed a blockbuster extension of its ownership of broadcast rights for the English Premier League.
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However, there are concerns over the six-year deal, which is reportedly worth $810m, or roughly $135m per season.
That is because Nine has effectively “bet against itself” in renewing the deal, industry insiders told The Australian, as no other parties were interested in acquiring the rights.
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