Sky Television has admitted it's not the preferred bidder to broadcast the 2019 Rugby World Cup, which will be held in Japan.
The news was released to the New Zealand Stock Exchange (NZX) on Wednesday.
"We were informed overnight that we are not the preferred bidder for the New Zealand broadcast rights for Rugby World Cup 2019," Sky TV says.
"We have been informed that negotiations are underway with the preferred party, and our bid remains in play should those negotiations fail."
Speculation emerged last year US internet giant Amazon was moving into sports broadcasting and may start competing for rugby rights, while it has been reported on Wednesday telecom company Spark and TVNZ have made a joint bid and are the preferred offer.
Sky TV says it is "disappointed" not to be the preferred bidder, and blames it on working in a "competitive business".
"It's an economic reality that we can't have every match of every sport that New Zealanders like to watch," it told NZX.
"While the Rugby World Cup is great content and we put forward a strong bid for it, it is an incredibly expensive event that plays once every four years for six weeks."
The company is refusing to release any further details of the bid process.
NZN / Newshub.