Retiring fast bowler Mitchell Johnson.Credit:Getty Images
It has offered WIN a two-year deal as part of its negotiations. The affiliation deal is now worth about $80 million a year to Nine.
Nine could switch to WIN Corp's rival,Southern Cross Media,which tried to merge with Nine in early 2013. But Southern Cross's deal with Ten Network Holdings does not expire until June next year.
It is understood that Nine cannot simply let its deal with WIN lapse – even for six months – because it would breach its rights obligations if its key sports content was broadcast to only a metropolitan audiences and not regional ones too.
Also adding to the complexity surrounding the crunch talks is the fact that Nine may have to seek shareholder approval for any new deal because WIN Corp owner Bruce Gordon has moved to buy 14.95 per cent of Nine.
The listing rules require certain transactions with third parties that own more than 10 per cent of a company's share capital to be put to a shareholder vote.
Mr Gordon arrives in Sydney from his home in Bermuda in the coming weeks and may play a role in the continuing talks,which have been led by WIN Corp chief executive Andrew Lancaster.
Nine has also had talks with Southern Cross Media and indicated that it would want more of a share of its revenues than WIN's to defray the cost of switching affiliates.