28 March 2006

TVN deals hit TABCORP for six

TVN, the racing broadcaster in Australia owned by the country's major raceclubs has moved into dealmaking overdrive, as Breeding&Racing sums up:
TVN "is negotiating with Telstra to ink a broader 'new media' rights deal worth up to $10 million a year, which would enable punters to place bets & watch Sydney & Melbourne races on their mobile phones". The paper revealed "TVN chief executive Peter Sweeney met Telstra executives in Sydney yesterday after the TVN board unanimously recommended that shareholders accept an offer by James Packer's Publishing & Broadcasting to take up a 25% stake for $25 million". Telstra's Big Pond has shown Sydney & Melbourne races since 2004, but "sources said yesterday a much broader, bigger relationship is on the table. The potential of putting together, in a mobile package, race vision with the ability to make considered bets is huge." (Mar 28)

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