The Hanoitimes - National TV station Vietnam Television (VTV) has agreed to share the World Cup 2018 broadcast right with Ho Chi Minh City Television (HTV), a decision that still needs approval from the Federation International Football Association (FIFA).
With the deal, HTV would take the right to exploit its own advertisement as well as provide its own commentators for 64 matches during the World Cup 2018.
The agreement was confirmed by Duong Thanh Tung, General Director of HTV with Zingnews. However, the deal still waits for approval from FIFA, Tung added.
In principle, VTV has finalized with Infront Sports & Media on the purchase of World Cup 2018’s broadcasting right. Nonetheless, the broadcaster still needs the nod of FIFA to share the right with third parties.
“We receive the broadcast rights amid challenging context for commercial exploitation. HTV would try its best to offset the purchase cost, yet the deal is positive news for Vietnamese football fans, which means they would have a more diverisified channel to enjoy this football party”, said Duong Thanh Tung from HTV.
Earlier, in an annoucement released on June 8, VTV claimed its official buying of World Cup 2018’s broadcasting rights.
Accordingly, VTV, Viettel and Vingroup agreed to pay some VND340 billion (US$14 – 15 million) for the broadcast rights.
Prior to that, VTV estimates for a loss of 90% of its investment if they want to win an exclusive right to broadcast all 64 football matches during the once-in-every-four-year event. Therfore, the Vietnamese broadcaster did not try to purchase the broadcasting right at all cost.
This is not the first time negotiations for broadcasting rights for major sports events have faced difficulties because of high prices. It is the third consecutive time that VTV has won World Cup broadcasting right in Vietnam. It spent US$3.5 million in 2010 and US$7 million in 2014 for the right.
With this last-minute deal, Vietnam was the last country among more than 200 nations and territories to earn World Cup broadcast rights, according to FIFA.