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SBD Global/March 21, 2013/Media

Aussie Racing Channel TVN Rocked By Resignations Of Top Level Execs

Australian racing channel TVN "is in turmoil following the withdrawal of the candidature" of Chair-elect John Hartigan, the former News Ltd. CEO, and the subsequent resignation of the interim Chair Bill Lenehan, a former Channel 10 exec, according to Ken Callander of the DAILY TELEGRAPH. TVN's CEO Peter Sweeney "also finishes this month." It is understood the TVN board will "endeavour to change Hartigan's mind." In his letter of resignation Hartigan mentions "mistrust at board level and he also hints strongly at interference." He wrote, "The level of mistrust at a board level is something that has manifested itself in a shareholders agreement which has shackled the business and caused it to be unable to properly exploit the commercial opportunities on a day to day basis." TVN is half-owned by the Australian Turf Club in Sydney. The three Melbourne metropolitan race clubs "own the other half" (DAILY TELEGRAPH, 3/21).
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