SBD/Closing Bell

NASCAR Hires Steve Herbst As Part Of Restructuring, Streamlining

NASCAR today announced a significant restructuring designed to streamline its business operations and position it for its upcoming television rights negotiations, Chair CEO Brian France said. The organization hired Steve Herbst as VP/Broadcasting & Global Media Strategy. Herbst, who will be based in NASCAR’s N.Y. office, most recently worked as Exec VP & GM of CBS College. At NASCAR, Herbst will manage broadcast relationships with rightsholders Fox, ESPN and Turner. He also will be critical to the television rights negotiations process. NASCAR's current rights agreements end in '14.

France said NASCAR does not plan to launch a network of its own, despite recently building a production facility in Charlotte and hiring Herbst, who has experience launching a network. France: "We’ve got a unique situation in that we’ve got a relationship with the Speed Channel, which is in 74 million homes, so we’re going to build on that relationship before we consider trying to go a long way around."
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