Network 10 has signed an agreement to acquire WIN Network’s Northern New South Wales television licence, in a move reflecting the ongoing shake-up in regional media amid rising costs and industry pressures.
The deal will see the commerical network, part of Paramount Global, take control of broadcasting across key Northern NSW markets, including Newcastle, Tamworth, Lismore, and the Gold Coast, with local news updates to continue.
TV Blackbox understands from someone familiar with the deal that Network 10 has agreed to pay approximately $7 million for WIN’s Northern NSW licence, including some real estate and transmitters, though the final payment is expected to be minimal as it is tied to future earnings, which 10 would likely value at zero.
It follows Network 10 signing an agreement late last year to acquire Southern Cross’s regional licences in Queensland, southern New South Wales, and Victoria, a deal expected to be completed by the end of this month.
The acquisition is subject to regulatory approval and due diligence.
Media Release:
Network 10 has signed an agreement for the acquisition of WIN Network’s (WIN) Northern New South Wales television licence.
Network 10 will commence operating the licence from the completion of the sale. The acquisition of the licence ensures Network 10’s premium content and channels (10, 10 Bold DRAMA and 10 Peach COMEDY) will continue to be broadcast into Newcastle, Taree, Tamworth, Port Macquarie, Lismore, Coffs Harbour and the Gold Coast.
The production and broadcast of local news updates in the Northern Rivers, Tamworth, Taree, Newcastle and Gold Coast will remain, continuing the long-standing commitment to providing local content, news, events, sport and a local voice for the region.
Network 10’s acquisition of the television licence, as well as equipment and associated contracts is subject to customary sale conditions, including regulatory approval and due diligence, and will take effect once these have been completed.
Network 10 announced in December 2024 that it had signed an agreement for the acquisition of Southern Cross Media Group Limited’s (SCA) television licences in Queensland, southern New South Wales and Victoria. The addition of WIN’s Northern New South Wales television licence will complete the distribution of Network 10 into critical and highly populated regional markets.
Beverley McGarvey, President Network 10, Head of Streaming and Regional Lead 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.”
“This further reinforces Paramount Global’s (parent company of Network 10 and Paramount+) commitment to the Australian market and in particular Network 10.”
Andrew Lancaster, CEO of the WIN Corporation said:
“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.”
