Ten has announced its agreement to acquire WIN Network’s Northern New South Wales television licence, marking a significant step in expanding its regional reach. The acquisition will see Ten take over the operation of the licence, ensuring the continued broadcast of its premium content, including channels such as 10, 10 Bold DRAMA, and 10 Peach COMEDY, across key locations in the region, including Newcastle, Taree, Tamworth, Port Macquarie, Lismore, Coffs Harbour, and the Gold Coast.
The acquisition will also maintain local production and the broadcasting of local news updates in areas such as Northern Rivers, Tamworth, Taree, Newcastle, and Gold Coast, ensuring a seamless continuation of services to regional audiences.
Strengthening national footprint
This move follows closely on the heels of another major deal by the network. The network recently entered into an agreement to acquire the television licences of Southern Cross Media Group Limited (SCA) in Queensland, southern New South Wales, and Victoria.
Beverley McGarvey, President of Network 10, head of streaming, and regional lead at Paramount Australia, said: “The acquisition of WIN’s Northern New South Wales television licence ensures that our premium line-up of entertainment, news, and sport content continues to be available to all Australians, while also offering our commercial and advertising partners a national footprint.”
She also noted that this move reinforces the broader commitment of Paramount Global, the parent company of Network 10 and Paramount+, to the Australian market.
WIN’s strategic shift
Andrew Lancaster, CEO of WIN Corporation, explained that the sale was part of WIN’s strategic focus shifting towards its relationship with Nine. “WIN’s strategic focus is on Nine and it no longer makes sense for us to own the 10 Northern NSW business. As an industry, we should be looking to make the buying of advertising easier for our clients, and this transaction should help do that,” he said.
While the price of the deal has not yet been disclosed, Ten confirmed that further details of the acquisition would be released once all necessary conditions are met. The deal will be subject to regulatory approval and due diligence before it can be finalised.
Industry speculation has already begun about the potential ripple effects of WIN offloading its Northern New South Wales television licence. Capital Brief suggested that the transaction could be the catalyst for WIN media mogul Bruce Gordon to convert equity swaps in Nine held with Macquarie Group into shares, which could potentially make him Nine’s largest shareholder.