Why this beaten-down ASX media stock is rising today

A major rights deal has this ASX media stock moving higher.

Nine Entertainment Co Holdings Ltd (ASX: NEC) shares are pushing higher on Tuesday after the media company gave investors something new to weigh up.

At the time of writing, the Nine share price is up 1.87% to 92.7 cents.

It is only a modest gain, but shareholders will take it. Nine shares are still down 17% since the start of 2026 and 43% over the past year.

Here's what the company announced.

A couple stares at the tv in shock, with the man holding the remote up ready to press a button.

Image source: Getty Images

NRL rights locked in

According to the release, Nine has signed an agreement for NRL and NRLW broadcast rights from 2028 through to the 2034 seasons.

Under the agreement, Channel 9 and 9Now will keep their current NRL coverage. That includes 3 live NRL games each week, the Finals Series, and Test matches played in Australia.

The NRL Grand Final and State of Origin will continue to be shown exclusively on Channel 9 and 9Now.

Nine has also secured exclusive free-to-air and free streaming rights to 33 live NRLW games, the NRLW finals, and Women's State of Origin.

What Nine is paying

Nine said the annual cost will be $145 million in cash. This will be partly offset by $10 million in committed annual NRL advertising and other services, as well as $15 million each year in contra.

Live sport remains one of the few things that can still pull big audiences at the same time. Rugby league is also a major part of Nine's broadcast schedule.

The company said men's streaming and broadcast audiences have increased across all formats. Rugby league also delivered double-digit revenue growth for Nine in the 2025 season compared with 2024.

Why are Nine shares only up a little?

The Nine share price gain isn't huge, and that probably comes down to the cost of the deal.

Investors knew Nine was chasing the NRL rights, so the agreement itself is not a major surprise. The bigger question is how much value Nine can pull from the content over the life of the deal.

That leaves the focus on what Nine can do with the rights from here.

Advertising conditions are still uneven, and Nine will need rugby league to keep driving audiences, revenue growth, and 9Now engagement to make the extra spend worthwhile.

Can Nine shares recover?

The deal doesn't solve all of Nine's problems, but it does take a big risk off the table.

Losing rugby league would have been a bad result. It is a major part of Nine's free-to-air and streaming schedule, and still one of the better ways to bring in big live audiences.

Nine now has the rights locked in through to 2034, across both the men's and women's competitions. That should help 9Now, the broadcast business, and the way Nine sells advertising around its sports coverage.

Nonetheless, after a 43% fall over the past year, the share price still has plenty of work to do. But this is one less thing investors have to worry about.

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Nine Entertainment. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Communication Shares

A woman holds an old fashioned telephone ear piece to her ear while looking unhappy sitting at a desk with her glasses crooked on her nose and a deflated expression on her face.
Communication Shares

Why have Telstra shares lost 16% since May?

Telstra has been a loser in recent months.

Read more »

Smiling woman with her head and arm on a desk holding $100 notes, symbolising dividends.
Communication Shares

How much must I invest in Telstra shares to earn a $1,000 passive income in 2027?

Can investors call on Telstra for good dividend income in 2027?

Read more »

woman on phone
Broker Notes

With $2.4 billion in FY26 profits, are Telstra shares a good buy today?

A leading expert delivers his outlook for Telstra shares.

Read more »

a newsboy wearing historical costume of peaked cap and braces yells into an old fashioned megaphone while holding a newspaper in one hand, a so-called newsboy of previous eras when newsboys sold newspapers on street corners.
Communication Shares

Why did Nine Entertainment shares hit a 12-month low today?

It's been a bleak day for the media company.

Read more »

A group of people look intently towards the camera as though they are very interested in the information they are hearing.
Communication Shares

Tuas FY26 results: revenue climbs, subscriber base expands

Tuas' FY26 earnings saw a 24% revenue increase and strong subscriber growth as the company invests in network expansion.

Read more »

Man holding Australian dollar notes, symbolising dividends.
Communication Shares

If I buy $6,000 of Telstra shares, how much dividend income will I receive?

Telstra could be a wise choice for dividend income in FY27.

Read more »

Smiling woman listening to music and using her phone.
Dividend Investing

Should I buy Telstra shares for passive income?

I take a closer look at what the latest dividend forecasts could mean for income investors.

Read more »

A man in his 30s holds his laptop and operates it with his other hand as he has a look of pleasant surprise on his face as though he is learning something new or finding hidden value in something on the screen.
Dividend Investing

Are Telstra shares a good buy for passive income?

The telco offers its shareholders much more than just a potential share price upside.

Read more »