Network Ten keeps Formula One rights in Australia
Contract summary
Length of contract: 5 yearsAnnualised value: US$8 million
Overall value: US$40 million
Formula One has secured an extension to its broadcast partnership in Australia, giving Network Ten exclusive rights until 2015.
For the first time, the agreement includes online, mobile and IPTV rights. It will see all races broadcast live on Network Ten's digital sports channel, and delayed on Ten, its main channel. The Australian Grand Prix, though, will be broadcast live on Ten.
Network Ten has shown Formula One since 2003. The new contract will run from 2011, at the end of its current deal, until 2015.
The success of Red Bull Racing's Mark Webber, who scored two victories during the 2009 season on his way to a career high fourth in the world driver's championship, is likely to provide a boost in viewing figures.
Earlier this year Formula One Management announced that it had signed a new contract with the Australian Grand Prix Corporation and the city of Melbourne to continue hosting a Grand Prix in the city until at least 2015.
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