Closing Bell, August 5, 2003

CABLEVISION’S MSG DIVISION POSTS Q2 ’03 OPERATING LOSS OF $9.2M

CablevisionSystems today released its Q2 ‘03 earnings. Net revenue for the company’s MSG division – which includes the MSGNetwork, FSN N.Y., the Knicks, Rangers, Liberty, the MSG arena complex andRadio City Music Hall – totaled $133.2M, down 13% from the prior yearperiod.  Operating loss for the quarterwas $9.2M, compared to an operating profit of $40.9 in Q2 ’02.  The operating loss was primarily due to thereversal of a $30.3M luxury tax expense in Q2 ’02, as well as lower ad revenueand higher player compensation costs (Cablevision Systems).

REUTERSreports that the company posted a "net profit due to a one-time gain on thesale of wireless communications licenses, and said it discovered additionalaccounting irregularities.”  The companysaid it would not have to restate any results due to the accounting issues.  For the quarter, net income was $162.1M,compared with a net loss of $98M a year earlier.  Revenue increased 8%, to $973.3M, from $900.2M a year ago (REUTERS,8/5).  As of presstime, sharesof Cablevision were down $1.51, or 7.19%, to $19.49.

FSN TO DEBUT NEW WEEKLY SERIES “DIG” AS PART OF AVP DEAL

TheAVP today announced details of its deals with NBC and Fox Sports Net.  In addition to previouslyreported details, NBC and FSN have extended their programming commitmentsthrough the ’06 season.  FSN willtelevise seven two-hour events this season and next, as well as launch a weekly30-minute lifestyle show, “Dig,” which is scheduled to debut this month on FSNWest and other select FSN regional channels. NBC's nine hours of AVP action this month begins Saturday with The Manhattan Beach Open presented by Bud Light (AVP).

RICKY BARNES TO PLAY CALLAWAY CLUBS, BALLS UNDER DEAL

CallawayGolf today announced that ’02 U.S. Amateur champion Ricky Barnes hasjoined its team of staff professionals under a multi-year agreement, andconsequently will play Callaway Golf clubs and balls, and use a Callaway Golfglove and bag.  Barnes will also wearthe company’s logo on his visor. Barnes, who will make his pro debut during this week’s TheInternational at Castle Pines, CO, is repped by Gaylord Sports Management (CallawayGolf).

SPEEDWAY MOTORSPORTS’ NET EARNINGS DOWN 23% FROM Q2 ‘02

SpeedwayMotorsports today released its Q2’ 03 earnings, and REUTERS reports that thecompany said its earnings “fell because of debt refinancing charges and poor weather conditions,which led to canceling scheduled races.” Net earnings declined 23% to $26.5M, from $34.5M in the year earlierperiod.  Sales rose 2% to $150.9M from$147.6M a year earlier (REUTERS,8/5).  As of presstime, shares of SpeedwayMotorsports were down $0.78, or 3.09%, to $24.50.

BUZZER BEATERS

Nike’sJordan Brand today announced the appointment of Jackie Thomas to theposition of Dir of Marketing to oversee all aspects of brand marketing forJordan footwear, apparel and accessories, as well as be responsible for theutilization of Team Jordan.  Thomaspreviously was Nike USA Dir of Brand Management (Jordan).

ESPN.comreports that T’Wolves F Kevin Garnett’s lifetime deal with adidas is “worthapproximately $2[M] per year” (ESPN.com, 8/5).

CBSSports and DirecTV today announced that they will present CBS’ primary NFL gameeach week in high-definition format on CBS (CBS).

TheMemphis COMMERCIAL APPEAL reports that Time Warner Cable, through an agreementwith FSN Midwest, tonight will air the first of 20 MLB Cardinals games in theMemphis market with the team’s 7:00pm CT game against the Marlins.  Time Warner will continue to broadcast thegames of the Cardinals’ Triple-A Int’l League affil, the Memphis Redbirds, withfive airing this month (MemphisCOMMERCIAL APPEAL, 8/5).

CSTVtoday announced the schedulefor its football Game of the Week package, which begins August 30 withMontana-Maine at 6:00pm ET, and ends December 20 with the NAIA Championshipgame.  Carter Blackburn willprovide play-by-play commentary on each of the telecasts, while Glenn Parkerwill serve as analyst (CSTV).

CHANNELSURFING

ESPNewswill air MLB’s Urban Youth Initiative press conference at 4:00pm ET, with MLBCommissioner Bud Selig and AngelsOwner Arte Moreno among thespeakers.

DolphinsRB Ricky Williams, Falcons WR Peerless Price, actor Anthony Michael Hall, Fox NewsChannel’s Bill O’Reilly and attorneyMickey Sherman will be on ESPN’s “Rome is Burning” at 7:00pm ET.

ESPNwill air a new episode of “Beg, Borrow& Deal 2” at midnight ET.

ESPN2will air early round coverage of the TennisMasters Canada at 10:00pm ET.

ESPNClassic’s “SportsCentury” will profile MuhammadAli at 8:00pm ET.

49ersQB Jeff Garcia, Brewers radioannouncer Bob Uecker and actor Dan Cortese are scheduled to appear onFSN’s “BDSSP.”

Oxygenwill air WNBA Shock-Sun at 8:00pmET.

TLCwill air “Sports Disasters” at8:00pm ET.

A&E’s“Biography” will profile Richard Speckat 8:00pm ET.

E!’s “True Hollywood Story”will profile Anna Nicole Smith at8:00pm ET.

HEADLINERS

Hereare tonight’s headline guests on the following talk shows:

TODAY’S ARTICLES OF INTEREST

TheDETROIT FREE PRESS’ John Gallagher writes of SuperBowl XL, which will be played February 5, 2006 at Ford Field, “Civic leadershave no intention of letting 3,000 media representatives and a worldwideaudience of 800 million people see the kind of downtown blight that Detroitershave lived with for decades.  With ascant 2 ½ years left before kickoff, public and private leaders are mounting a massive assaulton downtown deterioration and, with it, on the city’s image of Rust Beltdecay” (DETROIT FREE PRESS).

TheWASHINGTON TIMES’ Rick Snider profiles Saratoga Springs, NY, and writes, “Thisis the place the Kentucky Derby crowd calls home for the summer.  There are the women who wear stylish hatsand elegant designer gowns before noon. There are the rich and famous who come here because fans let them walkthe racetrack grounds unmolested.  Thereare the late-night dinners and the even later parties. There is the horse talkthat lasts from sunrise to last call. This small town in upstate New York, for 140 years the home to SaratogaRace Course, is like a thriving horse racing theme park”(WASHINGTON TIMES).

SeeThe Daily Insider’s Articles ofInterest section for more sports business-related links.

TODAY’S TEASER…

Sports& Entertainment: In which European city and year are the Olympics set in the ’81 Oscarwinner, “Chariots of Fire?”

IN OTHER NEWS……

TheNASHVILLE BUSINESS JOURNAL reports that Gaylord Entertainment “has agreed to buythe nation’s largest vacation rental property management firm (ResortQuestInternational) for $177[M] in a deal expected to close early next year.”  The $177M price includes absorbing $71M ofResortQuest debt as well as $3M of ResortQuest’s restricted cash (BIZJOURNALS.com,8/5).

TheST. LOUIS BUSINESS JOURNAL reports that Panera Bread Co. “is joining thewireless trend by equipping its bakery-cafes nationwide with free Wi-Fiaccess.”  While 70 of its Panera Breadand St. Louis Bread Co. stores already have free Wi-Fi, “at least another 60stores will be wireless by the end of the year” (BIZJOURNALS.com,8/5).

THE DAILY STAT: TOP SPORTS SITES FOR THE WEEK ENDING JULY 20

Thefollowing are the top five sports Web sites ranked according to home uniqueaudience for the week ending July 20, according to Nielsen//NetRatings.  Unique Audience = the number of persons inthousands accessing the site or network, with each counted only once.  Average time spent = the average amount oftime a visitor has spent at that property for the week.  This data isbased on 50,000 home users with Internet access  (Nielsen//NetRatings).

…TODAY’S ANSWER

The finale of “Chariots of Fire” takes place at the ’24Paris Olympics.

If you have any questions,comments or suggestions, please let us know at:
dailyinsider@sportsbusinessdaily.com

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