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Real Madrid seals a record TV rights deal
Spain - 22 November, 2006
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Spanish Real Madrid sold its television broadcast rights to Mediapro in a record deal worth EUR 1.1 billion.
The seven-year agreement is the most expensive TV rights deal for a club, according to Real Madrid.
Mediapro was the highest bidder, though no information was given on other bidders. Currently, Sogecable holds the club's broadcasting rights, in a deal went through Audiovisual Sport, that runs until 2008 and is worth approximately EUR 55 million a year.
Mediapro is a major shareholder in the new free-to-air channel La Sexta, which was launched this year. Mediapro recently agreed to share local TV rights with broadcaster Sogecable SA.
Spanish media had reported that state-owned network Telemadrid was attempting to grab the rights. Telemadrid declined comment on the bidding process or whether it was a bidder.
Earlier this year, Barcelona announced a similar five-year agreement over its own TV rights with Mediapro, valued near EUR€1 billion.
The seven-year agreement is the most expensive TV rights deal for a club, according to Real Madrid.
Mediapro was the highest bidder, though no information was given on other bidders. Currently, Sogecable holds the club's broadcasting rights, in a deal went through Audiovisual Sport, that runs until 2008 and is worth approximately EUR 55 million a year.
Mediapro is a major shareholder in the new free-to-air channel La Sexta, which was launched this year. Mediapro recently agreed to share local TV rights with broadcaster Sogecable SA.
Spanish media had reported that state-owned network Telemadrid was attempting to grab the rights. Telemadrid declined comment on the bidding process or whether it was a bidder.
Earlier this year, Barcelona announced a similar five-year agreement over its own TV rights with Mediapro, valued near EUR€1 billion.
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