Nine Entertainment has snatched Australian tennis broadcasting rights from long-term holder Seven Network for $60 million per year, in the latest plot twist in the current sports rights negotiations.
The broadcaster confirmed on Thursday it had secured rights for all premium tennis played in Australia for the 2020 to 2024 seasons, ending Seven's four-decade hold on televising the Australian Open.
Nine shares have risen on the deal, up 3.5 cents or 1.6 per cent to $2.265 at 1320 AEDT, while Seven West Media shares are down 0.75 cents, or 1.4 per cent, to 54.75 cents.
Under the $300 million five-year-deal, Nine bought the live rights - including free-to-air, subscription television, streaming, mobile and social media - to the Australian Open as well as the lead up tournaments around Australia.
Chief executive Hugh Marks said Nine was excited to have secured the rights, particularly to the Australian Open.
"The time of tennis, and the audience demographics, are a perfect fit with Nine's audiences and advertisers," Mr Marks said on Thursday.
"We are impressed with Tennis Australia's approach to further growing both its events, particularly the Australian Open, and the associated broadcast proposition in Australia, and are excited to be part of that future."
Tennis Australia chief executive Craig Tiley said it was a "landmark deal" for the association, and said the new agreement would help it grow its events and the sport.
Nine has also been bidding for Australian cricket rights and last week had a joint bid with free-to-air rival Ten rejected by Cricket Australia.
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