Nine will save $130 million if the NRL season is cancelled this year due to the coronavirus pandemic.
In a presentation to JP Morgan Virtual Conference, the media company outlined $266 million in cost savings, the bulk of it coming from its rights deal with NRL should the games be called off.
“This is a very difficult time for all Australians, on many levels,” CEO Hugh Marks says.
“Notwithstanding an expected significant impact on our business as conditions continue to evolve, we are confident that with our enhanced audience position, our mix of assets and the commitment of the Nine team, we will emerge from this period a stronger and more competitive company.”
The costs are split for each half of the year, saving Nine $65 million should the competition be played in the second half of 2020.
The NRL was forced to suspend the season last week and entered negotiations with its TV partners, Fox Sports and Nine, to find a solution.
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