Seven Denies Trying To Offload Olympics

Seven Denies Trying To Offload Olympics

Rumours are swirling as to whether Seven West Media, who owns the broadcast rights to the Tokyo Olympic Games, is looking to sell the rights.

As reported in the Daily Telegraph, there are murmurings suggesting the broadcaster is trying to offload the postponed Games, which is now set to run in August 2021.

However, Seven told B&T there is no truth to the rumours.

Rumours Seven was seeking to offload the Olympics began in late April, with The Oz’s Media Diary reporting Seven’s bosses were looking to slash hundreds of millions in sports rights, including the cricket and Olympics.

It was reported SWM was looking over the fine print of its contracts with Cricket Australia and the IOC hoping to find clauses in its sports rights contracts and how the broadcaster could find a way out, considering the changes to scheduled events due to COVID-19.

It is understood Seven was due to pay the final installment for the Olympics rights on July 24, the day before the opening ceremony was due to take place. However, it was also reported that Seven believes it has ground to renegotiate the amount it pays for the games in 2021.

According to The Tele, insiders at SWM have said the COVID-19 crisis, mounding debt and an all-time low share price is forcing the media company to sell the rights. And, it’s being reported Channel 10 is in the running, helped by the backing of its US parent company CBS.

B&T contacted 10 for comment.

Meanwhile, TV Blackbox also suggested sources at Seven said the rumours are “totally made up” and that it “simply wouldn’t make sense.”



Please login with linkedin to comment

Seven tokyo olympic games

Latest News

QUT Business School Launches “Make it Real” Via BCM Group
  • Campaigns

QUT Business School Launches “Make it Real” Via BCM Group

Queensland University of Technology (QUT) Business School has launched a new brand platform, developed by BCM Group, built to encourage prospective students to upskill, invest in themselves, and nurture their inner entrepreneur.

Making A Name For Your Brand In A New Market: Tips For Launching A Campaign Globally
  • Opinion

Making A Name For Your Brand In A New Market: Tips For Launching A Campaign Globally

Jacqueline Gonzales [featured image] is the Head of Global Marketing at Squarespace. In this piece, she shares her best pieces of advice for launching a campaign globally. It’s estimated that we see between 6,000 to 10,000 ads every single day. In today’s digital landscape we’re constantly bombarded by so many different brand messages from every […]


by B&T Magazine

B&T Magazine
Acast Announces New Podcast ‘The Elements’
  • Media

Acast Announces New Podcast ‘The Elements’

From the audio producer of The Teacher’s Pet comes The Elements, a new Acast Creator Network podcast hosted by Thredbo survivor Stuart Diver. The Elements is a  podcast that journeys into the heart of surviving a natural disaster and will be hosted and distributed by the creator-first podcast company Acast as part of the Acast Creator […]