TABCORP HOLDINGS LIMITED
Media Releases
TVN broadcast rights
From tomorrow, Thursday 18 December, 2014, wagering on NSW and Victorian thoroughbred race meetings will continue to be available but will not be supported by vision on the Sky Racing channels.
Sky Racing is putting in place measures to minimise the impact on customers.
The previous long-term contract in place between Sky Racing and TVN expired on 31 December 2012. It has since formed the basis of multiple short-term rollover arrangements, while the parties worked to agree a new, long-term arrangement. Over the past two years, negotiations have proceeded with best endeavours and in good faith, and both parties have placed significant focus on reaching a new agreement.
Sky Racing put an attractive package to TVN which has not been accepted. Further, it is clear that another short-term rollover of existing arrangements will not deliver a long-term outcome.
Sky Racing's priority remains to successfully conclude a long-term, commercial rights negotiation, and to ensure the resumption of full coverage of NSW and Victorian thoroughbred race meetings on Sky Racing as soon as possible. Sky Racing is committed to agreeing a long-term broadcast rights deal that underpins and supports wagering, which is the biggest source of funding for the racing industry.
For more information:
Financial analysts: Lachlan Fitt, GM Investor Relations and Strategy, 02 9218 1414
Media: Nicholas Tzaferis, GM Corporate Affairs, 03 9868 2529
Published: 17 December 2014
Tabcorp Holdings Limited ("Tabcorp") has advised that the current short-term agreement between its subsidiary, Sky Racing, and ThoroughVisioN Pty Ltd ("TVN") for NSW and Victorian thoroughbred racing media rights will expire today without agreement being reached on a new long-term deal.From tomorrow, Thursday 18 December, 2014, wagering on NSW and Victorian thoroughbred race meetings will continue to be available but will not be supported by vision on the Sky Racing channels.
Sky Racing is putting in place measures to minimise the impact on customers.
The previous long-term contract in place between Sky Racing and TVN expired on 31 December 2012. It has since formed the basis of multiple short-term rollover arrangements, while the parties worked to agree a new, long-term arrangement. Over the past two years, negotiations have proceeded with best endeavours and in good faith, and both parties have placed significant focus on reaching a new agreement.
Sky Racing put an attractive package to TVN which has not been accepted. Further, it is clear that another short-term rollover of existing arrangements will not deliver a long-term outcome.
Sky Racing's priority remains to successfully conclude a long-term, commercial rights negotiation, and to ensure the resumption of full coverage of NSW and Victorian thoroughbred race meetings on Sky Racing as soon as possible. Sky Racing is committed to agreeing a long-term broadcast rights deal that underpins and supports wagering, which is the biggest source of funding for the racing industry.
For more information:
Financial analysts: Lachlan Fitt, GM Investor Relations and Strategy, 02 9218 1414
Media: Nicholas Tzaferis, GM Corporate Affairs, 03 9868 2529
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