Ch 9 Facing Bankrupcy

[cos789]

Wonder what the implications are.

12:07PM Wednesday Sep 26, 2012 4

Channel Nine on brink as banks circle
Date September 26, 2012 47 reading now

Glory days … former media mogul Kerry Packer. Photo: Supplied
IT WAS once the cornerstone of Kerry Packer's multibillion-dollar fortune, but after two full days of talks **** creditors Channel Nine was last night still fighting to stave off bankruptcy.

Sydney played host to a group believed to include Nine's chairman Peter Bush and chief executive David Gyngell.

The private equity owners of the broadcaster were locked in talks to stop the banks from taking charge, seeking breathing room to restructure nearly $4 billion worth of debt.



Read more: http://www.smh.com.au/business/channel- ... z27XRf2dIY

[Xman]

Wonder what the implications are.

12:07PM Wednesday Sep 26, 2012 4

Channel Nine on brink as banks circle
Date September 26, 2012 47 reading now

Glory days … former media mogul Kerry Packer. Photo: Supplied
IT WAS once the cornerstone of Kerry Packer's multibillion-dollar fortune, but after two full days of talks **** creditors Channel Nine was last night still fighting to stave off bankruptcy.

Sydney played host to a group believed to include Nine's chairman Peter Bush and chief executive David Gyngell.

The private equity owners of the broadcaster were locked in talks to stop the banks from taking charge, seeking breathing room to restructure nearly $4 billion worth of debt.



Read more: http://www.smh.com.au/business/channel- ... z27XRf2dIY

They were expecting to lose 10's of millions a year on the NRL deal too!

Imagine if they have to abandone the NRL agreement! Ch10 could get the game for a song!

[QueenslandISAFL]

NSWRL taking advantage of a helpless channel, for shame

[justanotherleaguefan]

This is why the ARLC made them pay 90 mil up front

[Xman]

This is why the ARLC made them pay 90 mil up front

thats if theyve paid it yet. Plus, 90m over 5 years is a bit of a downgrade isnt it?

[Beaussie]

This is why the ARLC made them pay 90 mil up front

Hasn't been paid yet my friend. Good luck getting it now.

The agreement comprises $925 million in cash, of which $90 million is paid at the start of the 2013 season

http://news.theage.com.au/breaking-news ... 24kc4.html

A deal that was only struck weeks ago looks to already be falling apart. $1 billion+ you lot thought eh?

[eelofwest]

This is why the ARLC made them pay 90 mil up front

Hasn't been paid yet my friend. Good luck getting it now.

The agreement comprises $925 million in cash, of which $90 million is paid at the start of the 2013 season

http://news.theage.com.au/breaking-news ... 24kc4.html

A deal that was only struck weeks ago looks to already be falling apart. $1 billion+ you lot thought eh?

Well this could work in the NRL fans favour.

Channel 10 offered to play 4 live games on FTA and 800 million cash.

So either way we still get the cash and we will kill you boys on FTA......

Imagine that 4 live games on FTA for NRL, we would have near 4 million viewers every week. GAME SET AND MATCH FOR THE TV RATINGS PAGE ME THINKS...TIME TO TAKE IT DOWN HEY BEASSIE?? =D>

[eelofwest]

The contract by the NRL with NINE was made with this situation fully known and accounted for in the TV Contract.

http://www.theaustralian.com.au/sport/n ... 6481363589

NRL comfortable in deal with debt-ridden Nine

by: Stuart Honeysett
From: The Australian
September 26, 2012 12:00AM

THE NRL says it remains confident that its $1.025 billion broadcast rights deal will be honoured regardless of the outcome of talks between the Nine Network and its creditors.

The Australian reported yesterday that Nine had warned its creditors that its lucrative sports contracts, particularly the recent five-year deal negotiated with the NRL, would be at risk if they placed the network into receivership.

"We've got a contract with Channel Nine and it's a binding contract so we're comfortable with our relationship," NRL interim chief executive Shane Mattiske said yesterday. "We know how important we are to Nine and clearly that will be understood by all the parties involved behind the scenes at Nine as well."

Nine management has met with US hedge fund representatives Apollo and Oaktree for two days to find a solution for a $2.8bn debt that is owed in February.

The network is hoping to refinance the debt but yesterday's talks concluded with no resolution.

Mattiske said the NRL had been aware of Nine's financial plight before it signed off on the deal last month. The Ten Network was also keen to secure the rights while there was also interest from Seven before the league chose to remain with Nine.

"We spent a lot of time during the negotiation process understanding the complexities that sit behind the Nine Network's investment and debt structure," Mattiske said. "That work allowed us to have comfort and certainty.

"We're comfortable to rely on the contract that's in place."

[QueenslandISAFL]

This is why the ARLC made them pay 90 mil up front

Hasn't been paid yet my friend. Good luck getting it now.

The agreement comprises $925 million in cash, of which $90 million is paid at the start of the 2013 season

http://news.theage.com.au/breaking-news ... 24kc4.html

A deal that was only struck weeks ago looks to already be falling apart. $1 billion+ you lot thought eh?

Well this could work in the NRL fans favour.

Channel 10 offered to play 4 live games on FTA and 800 million cash.

So either way we still get the cash and we will kill you boys on FTA......

Imagine that 4 live games on FTA for NRL, we would have near 4 million viewers every week. GAME SET AND MATCH FOR THE TV RATINGS PAGE ME THINKS...TIME TO TAKE IT DOWN HEY BEASSIE?? =D>

Yeahh, imagine why don't we seems you rugby league fans have to imagine beating us now, what will you resort to next

[Xman]

This is why the ARLC made them pay 90 mil up front

Hasn't been paid yet my friend. Good luck getting it now.

The agreement comprises $925 million in cash, of which $90 million is paid at the start of the 2013 season

http://news.theage.com.au/breaking-news ... 24kc4.html

A deal that was only struck weeks ago looks to already be falling apart. $1 billion+ you lot thought eh?

Well this could work in the NRL fans favour.

Channel 10 offered to play 4 live games on FTA and 800 million cash.

So either way we still get the cash and we will kill you boys on FTA......

Imagine that 4 live games on FTA for NRL, we would have near 4 million viewers every week. GAME SET AND MATCH FOR THE TV RATINGS PAGE ME THINKS...TIME TO TAKE IT DOWN HEY BEASSIE?? =D>

what cash? If ch9 go bankrupt they cant pay and there will be less competition for ch10. theyll pay unders.

the NRL may be confident of being paid but that may be hard if theres no money.

[piesman2011]

Is it true that if C9 goes into liquidation then what could happen is that the creditors could sell the 3 NRL games that nine own to anyone they like for less money and the NRL will have to take what they can get?

[piesman2011]

Imagine that 4 live games on FTA for NRL, we would have near 4 million viewers every week. GAME SET AND MATCH FOR THE TV RATINGS PAGE ME THINKS...TIME TO TAKE IT DOWN HEY BEASSIE?? =D>

9 only have 3 games Eel, foxtel would still have the rights to the other 5 games.

[Xman]

Imagine that 4 live games on FTA for NRL, we would have near 4 million viewers every week. GAME SET AND MATCH FOR THE TV RATINGS PAGE ME THINKS...TIME TO TAKE IT DOWN HEY BEASSIE?? =D>

9 only have 3 games Eel, foxtel would still have the rights to the other 5 games.

Exactly. Imagine how fox would react if they lost exclusivity for their 5 games. They'd want compensation for sure.

[Beaussie]

This is why the ARLC made them pay 90 mil up front

Hasn't been paid yet my friend. Good luck getting it now.

The agreement comprises $925 million in cash, of which $90 million is paid at the start of the 2013 season

http://news.theage.com.au/breaking-news ... 24kc4.html

A deal that was only struck weeks ago looks to already be falling apart. $1 billion+ you lot thought eh?

Well this could work in the NRL fans favour.

Channel 10 offered to play 4 live games on FTA and 800 million cash.

So either way we still get the cash and we will kill you boys on FTA......

Why would any network, particularly a financially struggling Channel 10 pay $800 million for just 3 FTA games? >

I'd be very concerned right now if I was an NRL fan. First big test for the ARLC and all they've delivered is uncertainty, despite knowing the risks of going with Channel 9. Way to go ARLC.

[MarkZZZ]

Life will go on as is. The creditors will take over the network in a "debt for stock deal" and life will go on.