Melbourne Cup broadcast attracts low offers as Tabcorp plays hardball

The country’s three commercial television networks will lob lower than expected offers to secure the Melbourne Cup broadcast rights, complaining about the terms proposed by Tabcorp, which is running the process.

The ASX-listed wagering group must sublicense the rights to a broadcaster under Australia’s anti-siphoning laws and under a deal which it is working towards with the ultimate owner of the event, the Victoria Racing Club.