Real's TV rights are presently held by Sogecable, through Audiovisual Sport in a deal which runs until 2008 and is worth around €55 million a year. The new deal will see Real almost triple that figure and earn over €157 million each season.
Publicly-run regional television station Telemadrid also bid for the rights.
Mediapro, an affiliate of WPP group, signed a similar deal with Barcelona earlier this year which was reported to be worth around €1 billion euros. The company then reached an agreement with Sogecable to exploit the rights on its pay-TV platform.
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