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ANALYSTS FEEL NASCAR MAY BE SHOOTING TOO HIGH ON TV DEAL

          NASCAR's decision to consolidate its TV package "was
     well timed" with its "surging popularity," but "some" TV
     analysts say the estimated $400M in rights fees from the new
     TV deals "may be overly optimistic," according to Mollenkamp
     & Reagan of the WALL STREET JOURNAL.  Turner Sports VP Kevin
     O'Malley says that even a $300M deal "seems high" and is
     "destined to incur losses" for the networks.  O'Malley:
     "What they announced was the headline.  The story is yet to
     come."  Ladenburg Thalmann analyst William Scovin says
     "current valuations are highly optimistic" and fail to
     "leave sufficient room for disappointment from variables
     such as changes in the value of sports events, or declines
     in the value of network advertising time."  Analysts differ
     on whether race track owners, such as Int'l Speedway Corp.
     (ISC) and Speedway Motorsports (SMI), will "necessarily
     share equally in the winning," while "most believe" that ISC
     has the edge over SMI "in leveraging new TV exposure" into
     "richer earnings" (WALL STREET JOURNAL, 3/10).      

SBJ Morning Buzzcast: March 25, 2024

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