Seven has welcomed the decision by the International Olympic Committee (IOC) to postpone the Games to 2021.
The IOC confirmed that it would push the 2020 Tokyo Olympic Games and Paralympic Games to next year due to the unfolding coronavirus pandemic.
“While we are just as disappointed as anyone with the postponement of the Tokyo Olympics and Paralympics, the health and safety of the athletes, officials and spectators is paramount, which is why we absolutely support the decision taken by the IOC,” says Seven CEO James Warburton.
Seven, which secured the rights for the Games in 2014, had already booked close to $90 million in revenue for this year’s broadcast event.
However, the rapidly evolving pandemic, which has restricted travel world wide and forced people around the globe indoors, has pushed the games to next year.
Seven West Media is likely to have its rights payments pushed back in line with the new schedule.
“We’re disappointed to no longer be able to offer our partners the incredible platform that Tokyo 2020 could provide,” says Kurt Burnette, Seven’s chief revenue officer.
“Our partners are just as disappointed as us, but completely support that the health and safety of the global community comes first. We’re already working together to explore all options and to help support them in reaching their key audiences now, when messaging is more important than ever.”
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