However it has reached an agreement with the likely buyer, pay-broadcaster Sky, which will ensure that free-to-air coverage of the event would remain available.
According to New Zealand news website Stuff, TVNZ spokeswoman Megan Richards said the broadcaster had been able to absorb losses from rights for international events in previous years, in the interest of keeping important international events on free-to-air channels but that in the current economic climate that was not possible.
“We have no reserves and no buffer any more,” she said. “So the plan B was to put that proposal to Sky.”
Ms Richards said the move did not mean TVNZ would no longer bid for international events, and would still pursue the rights for the Rugby World Cup 2011, being played in New Zealand, but warned its bids would reflect “our financial position”.
