Seven West Media boss James Warburton told Tabcorp on Thursday evening the network would withdraw from the Melbourne Cup bidding.
Seven West Media has withdrawn from what was a two-horse race for the Melbourne Cup broadcast rights, leaving Nine Entertainment the likely winner.
Tabcorp had asked the networks to express their interest in buying the domestic broadcast rights to the Melbourne Cup in June – a deal which it expected could generate more than $100 million over six years.
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