Max Verstappen is the 2022 Formula 1 champion. Photo: PHOTOSPORT
Sky Network Television has secured the rights for Formula 1 racing from next year.
The New Zealand rights for the world's most popular motorsport was previously held by telecommunications company Spark, which today announced it would be calling time on sports streaming.
Sky said the deal for Formula 1 - starting from January - would include free-to-air coverage of the Melbourne Grand Prix, as well as free highlights for each race.
Formula 1 content would be available on Sky and the Sky Sports Now streaming platform.
The first race of the season is scheduled for March.
"Formula 1 is spectacular to watch, and we know from our research that many of our customers are very keen for us to get this exciting content back on Sky," chief executive Sophie Moloney said.
"We also expect it to attract new customers, particularly to our streaming service Sky Sport Now," she said.
Formula 1 director of media rights, Ian Holmes, said the company hit new viewership highs across television and online platforms in 2022.
"We are the only truly global championship in sport and we are proud to bring our world class coverage to every corner of the globe," he said.
In recent years, Formula 1 has experienced strong growth across the globe, pushed by the popularity of the Netflix series Drive to Survive.