TVN Awarded Lucrative Thoroughbred Broadcasting Rights in Australia

Australian broadcaster TVN has been awarded broadcast rights to thoroughbred racing to "the two biggest markets" of New South Wales and Victoria, to compliment the rights it already holds for the remaining Sydney metropolitan tracks and Victoria, according to Leys & Kogoy of THE AUSTRALIAN. The deal is for 15 years and is worth up to $400M per year. The rights are held by Tabcorp until December for broadcast on its racing channel, Sky Racing. A source described it as "a huge victory" for TVN Chair Harold Mitchell. The source said, "He should take on global warming after this. This is hugely significant because for the first time it means the industry can take charge of its own fortunes and future (THE AUSTRALIAN, 6/14).