Cricket TV rights deal: US streaming giants Paramount hit back over snub

Paramount has broken its silence ahead of the long-awaited cricket TV rights announcement after it was again brutally left at the altar by a major Australian sport.

Paramount has hit back over its failed attempt to land cricket’s TV rights. Picture: Michael Klein

Beaten streaming network Paramount has hit back over its failed attempt to land cricket’s TV rights, claiming it never made a formal bid after an 11th hour breakdown with Cricket Australia.

Fox Sports and Kayo have secured a major victory over the US streaming giant to retain cricket’s TV rights for another five years, along with Channel 7, in a billion dollar bonanza to be officially announced by Cricket Australia on Tuesday.

It is the second time in four months that Paramount has been brutally left at the altar by a major Australian sport, after the AFL also elected to back in the reach and quality of established sports streaming platform Kayo and Foxtel.

Paramount has broken its silence ahead of Tuesday’s announcement, attempting to play down suggestions it is once again the victim of a ruthless snubbing as it suggested its relationship with Cricket Australia had cooled over recent weeks.

Paramount has hit back over its failed attempt to land cricket’s TV rights. Picture: Michael Klein

“We understand the interest in the most recent cricket media rights process and while Paramount considered the rights on offer and, despite reports to the contrary by various media outlets, it became clear following consistent discussions with Cricket Australia, that our objectives and views on the future presentation of the sport and its value were not aligned,” a Paramount ANZ spokesperson said.

“As a result, Paramount never made a formal bid for the rights and did not actively pursue the rights over recent weeks.”

There is no doubting however that Paramount set the pace early in negotiations with its desperation to land a major sport.

Media experts have claimed Paramount in fact saved CA from an embarrassing shortfall in the rights negotiations by going in hard with an early offer.

Paramount has refuted reports claiming that offer was $1.5 billion.

It’s unclear to what degree Paramount’s interest was used as leverage in negotiations, but it became obvious a couple of weeks ago that Cricket Australia was not willing to risk partnering with a platform with such limited reach as a sports streaming service, and a free-to-air network in Channel 10 with a ratings percentage threatening to dip below 20 per cent.

Fox Sports commentator Adam Gilchrist. Picture: Tim Hunter.

In the end, the quality and reach that Foxtel was able to demonstrate it has in Australia has become the centrepoint of cricket’s new five-year deal.

CA made a decision that Paramount couldn’t guarantee anywhere near the same spread and influence across the country that Foxtel, Kayo and Seven could offer, despite offering a greater financial sugar hit.

Foxtel group now has long-term agreements with all Australia’s major sports, AFL, NRL cricket and Supercars to confirm its status as the leading sports destination for Australians and Australian sport.

Paramount denies missing out on another major sporting rights deal constitutes a major blow to the US Company, which owns Channel 10.