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Hong Kong And Hitv Sweep League Towards $2 Billion Mark - TV/Movies - Nairaland

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Hong Kong And Hitv Sweep League Towards $2 Billion Mark by sammie4rea: 4:02pm On Dec 02, 2009
The international rights sales of English football’s Premier League continues to throw up interesting outcomes, with I-Cable making a comeback in Hong Kong, revenues leaping again in Africa and Australia and the league halting the process in China after this week’s auction failed to produce any satisfactory offers.

European sales are still to come – bids are due in next week – but the league now looks on course to bring in over $2 billion (€1.3 billion) in total from its next three- year cycle, from 2010-11 to 2012-13, up from the $1.3 billion it brings in now.

The highlights from this week’s auctions and awards were:

In Hong Kong, I-Cable won with a bid of close to $210 million, after incumbent PCCW opted not to bid much more than it pays now. I-Cable’s share price jumped 44 per cent as news of the deal came out – leading to a temporary suspension of trading – although it has since slipped.

Pay- broadcaster HiTV won exclusive rights in Nigeria with an opening-round offer of about $125 million, more than triple the present fee.

Supersport retained the rights in South Africa, paying some $45 million.

China proved an anomaly in an otherwise rosy set of results for the league. The league faces technical and political problems in its bid to increase its exposure in the country, as well a hard job maintaining value. State broadcaster CCTV is thought not to have bid in the auction on Monday.

In Australia, fees jumped 65 per cent as Fox Sports paid about $45 million to beat off competition from the Ten Network and telecoms company Telstra.

Elsewhere, bidding in Sub-Saharan Africa will go to a second round later this month, the Supersport facing off against Beijing-based group Star Communications.  Canada will also go to a second round. In the Caribbean, carved out of the US package for the first time this cycle, the rights are set to go to pay-broadcaster Sportsmax.

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