Nine sub-licenses '60 Minutes' from Ten
EmptySYDNEY -- The Nine Network will sub-license up to 25 U.S.–produced "60 Minutes" stories a year from Network Ten, the broadcasters announced Friday.
Nine lost the rights to the "60 Minutes" content when it decided not to renew its long- term output deal with CBS Paramount late last year, with Ten subsequently signing up with the distributor. Under that deal, Ten gained access to around 100 "60 Minutes" segments produced annually in the U.S. Nine, however, retained the rights to the "60 Minutes" brand and still produces its own weekly version of the public affairs show -- one of its highest rating programs.
Realizing it had more content than it needed, Ten sought expression of interest for the "60 Minutes" segments and Nine came out as the top bidder.
Under the terms of the deal, Nine will have to nominate its selected stories within a specified time from the U.S. telecast date. Ten is still evaluating how it will use the remaining content.
Network Ten CEO Grant Blackley said the arrangement "provides Ten with an efficient way to manage the literally hundreds of hours of CBS News and '60 Minutes' content delivered under our agreement with CBS Paramount."
Added Nine CEO Eddie McGuire: "Under our new agreement, we will have access to the best "60 Minutes" stories from the United States while not having to pay for other content we don't need in our schedule -- a considerable saving overall."