Prime Media is making an unspecified upfront payment and then paying unspecified increased fees for the five-year period.
The agreement, which is effective from July 1, 2018 and runs for five years, recognises current market terms and reflects Seven’s ongoing investment in content and sporting rights.
Seven West Media’s CEO Tim Worner said: “Our partnership with Prime, which now runs over 30 years, is one that we value tremendously. It delivers great results for both organisations, and ensures millions of viewers in regional and rural Australia can enjoy Seven’s market-leading news, entertainment and sport programming.”
Ian Audsley, CEO of Prime, said: “Seven has made substantial up-front investments in key sports rights and uniquely Australian content to drive audience performance in an increasingly competitive environment. We recognise that these investments form the cornerstone to Prime’s leading position in regional television. Accordingly, we have increased our contribution to these investments and we are delighted to further extend our relationship with Seven.”