News Corp CEO Robert Thomson plays down English Premier League rights loss
News Corporation chief executive Robert Thomson has played down Fox Sports' loss of English Premier League rights to Optus and questioned the value of the world's most famous football league.
Fox Sports, which is owned by News Corp, earlier this week lost the battle for the Australian rights to England's top flight football league.
Optus secured broadcast and digital rights to the Premier League for $US45 million ($63 million) per annum for three years, starting with the 2016-2017 season.
It is understood that the bid was significantly higher than the offer lodged by Fox Sports.
Mr Thomson, commenting during the presentation of News Corp's first-quarter results, defended the decision not to outbid Optus.
"You can buy any right as long as you're prepared to pay any price. But, sometimes, by our reckoning, any price is not appropriate for us or our shareholders," Mr Thomson said.
"There are some EPL fans in Australia, there's no doubt about that, but we're certainly not talking about prime time. The 3pm kickoff in UK is 2am in Australia. "
Fox Sports has been criticised for the loss of the Premier League, although it is not yet known how it will impact subscriber numbers.
"Hardcore fans of anything in Australia are called tragics, but the sweet spot for EPL at 2 in the morning [is]: tragics are insomniacs," Mr Thomson said.
"You might have noticed yesterday, Bayern Munich beat Arsenal 5-1 in the Champions League which may be itself an indictment of the value of the Premier League."
Arsenal is currently tied for first place in the Premier League, while Bayern Munich sits on top of Germany's Bundesliga. Bayern has won the last three Bundesliga titles and has won the league 25 times. It also won the Champions League in 2013.