Tennis Australia profit hit reveals cost of Open

Original article by John Stensholt
The Australian – Page: 17 & 20 : 11-Sep-18

Tennis Australia generated revenue of $337 million in the year to 30 June, up from $318 million. However, its net surplus of around $6 million was down on the $11.4 million surplus that it recorded for the previous corresponding period. Tennis Australia’s total costs increased by $22 million to $329 million, while spending on operations and events increased from $199 million to $215 million; most of that expenditure went towards staging the Australian Open.

CORPORATES
TENNIS AUSTRALIA, THE A2 MILK COMPANY LIMITED – ASX A2M, AUSTRALIAN OLYMPIC FEDERATION, CRICKET AUSTRALIA

Cricket loss not all bad for Nine

Original article by Samantha Bailey, Dana McCauley
The Australian – Page: 19 : 17-Apr-18

Tennis and cricket broadcasting rights generate a loss for the Seven and Nine networks, and this is likely to continue when the sports change networks. Nine is estimated to have lost around $A50m a year from its cricket coverage, but Citigroup forecasts that its annual losses from tennis broadcasts will be within the range of $A20m to $A30m. Meanwhile, UBS forecasts that Seven will gain an increased share of advertising revenue at the expense of Nine and Ten following their loss of cricket broadcasting rights.

CORPORATES
SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED, CITIGROUP PTY LTD, UBS HOLDINGS PTY LTD, FOXTEL MANAGEMENT PTY LTD, CRICKET AUSTRALIA, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS