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Arena Leisure - Attheraces strikes new rights deal

June 2004

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • ARE
The shares firmed sharply to 44.75p after racecourse owner, Arena, announced a restructuring of its subsidiary, Attheraces as well as the signing of a new media rights agreement between Attheraces and 25 of the 59 racecourses.   The restructuring of Attheraces, a rights management business, which owns the eponymous TV racing channelwith interactive betting platform, involves Arena and BSkyB jointly buying out Channel 4's stake, together with its £23m of loan notes advanced to attheraces, for £1.25m, to create a new 50:50 partnership.  However, the new deal has been structured so that the first £27.5m profits and / or rebates received by attheraces will be split as to £17.5m to Arena and £10m to BSkyB. ...

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Related Articles

Arena Leisure - OFT reforms not the dream scenario (August 2004)
Arena Leisure - Attheraces terminates agreement (May 2004)
Arena Leisure - Horse racing group could could benefit from OFT rulings (October 2003)

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