Translation result
SBS expressed regret after JTBC announced that negotiations over the North American World Cup broadcast rights had collapsed.
On the afternoon of the 22nd, SBS issued an official statement saying JTBC’s media announcement that the negotiations had failed meant SBS would be unable to take part in the broadcast. As a station that has aired every World Cup since its launch, SBS called the outcome deeply regrettable.
Earlier that day, JTBC said it had offered the same terms to the three terrestrial broadcasters and, after receiving replies by the 21st, confirmed it would co-broadcast with KBS. The agreed fee was reported at 14 billion KRW (approximately $10.5 million USD).
SBS said it entered talks prepared to absorb some losses to fulfill its public obligations as a terrestrial broadcaster and to meet viewer expectations. It said it even proposed an offer 20% higher than its initial bid and exhausted every avenue to reach an agreement. However, SBS added, the rights offered by JTBC raised contentious digital-rights issues, and the price would place a significant strain on the company’s financial health and shareholder value. While SBS acknowledged the importance of its public role, it said it could not ignore the need to preserve sustainable management as a publicly traded company.
SBS said it will work with others to develop a new, reasonable system for major sports broadcasts — such as the World Cup and the Olympics — that balances public duty with the realities of a changed media environment.
MBC also expressed regret over JTBC’s announcement. MBC said it submitted a proposal to JTBC on the 21st to reacquire the broadcast rights, but JTBC announced the talks had failed to the press instead of replying. MBC criticized JTBC for unilaterally declaring the negotiations over without notifying the other parties involved.
The North American World Cup opens on June 11 (local time). Canada, the United States, and Mexico will co-host, and the tournament will feature 104 matches — the most in World Cup history.
iMBC Entertainment Kim Jong-eun | Photo credit: JTBC
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