The Press Release issued by Channel 7 reads as follows:
The Seven Network and Network Ten today advised the Australian Football League that both networks have accepted the terms for television rights for the 2007-2011 football seasons.
Under the terms of today’s agreement, Seven and Ten will acquire the television rights to the Australian Football League, based on the AFL’s 23 December, 2005 offer to Seven and Ten under the first and last agreement with the AFL for television coverage for the 2007-2011 football seasons.
Seven and Ten will match the offer made by Publishing and Broadcasting Limited to the Australian Football League including the consideration, namely $780 million ($87.5 million of which is contra) over five years, with such consideration to be shared between Seven and Ten based on match allocations across all television media.
Seven and Ten will allocate rights to all games and will further define the allocation and scheduling of matches, including the finals and Grand Final, with details to be released in the coming months.
Executive Chairman of Seven Network Limited, Mr Kerry Stokes, said: ""We are pleased to be back in football. We have made great advances in news and public affairs, breakfast television and primetime over the past eighteen months and can’t wait for football to be back on Seven in 2007.""
Executive Chairman of Network Ten, Mr Nick Falloon, said: ""Since acquiring the rights in 2001, AFL has become an important feature of Ten’s schedule. We are excited about continuing our successful AFL relationship for seasons 2007-2011.""
Seven and Ten today also confirmed that Seven had agreed to discontinue its current Federal Court action against Ten in relation to the negotiation of television rights for AFL and National Rugby League in 2000.
