No Reverse Swing in the Cost of Cricket Rights, Yellow Sticky Tape or Not
The changing of the Australian cricket telecast rights holder from 2018/2019 summer has no impact on our fair value estimates for Nine Entertainment (AUD 1.50), Seven West Media (AUD 0.66), and News Corporation (USD 16.00).As foreshadowed in our report on April 9, 2018 titled "Premature Exhilaration in Free-to-Air TV?," Cricket Australia brushed aside the "ball-tampering" scandal and secured a nominal 64% lift on a per-year cost basis with the new six-year, AUD 1.2 billion broadcast deal with S...
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