TIDMCMX
RNS Number : 1829R
Catalyst Media Group PLC
07 March 2016
7 March 2016
Catalyst Media Group plc
("CMG" or the "Company")
Announcement by SIS regarding five year extension for the
distribution of Irish horse racing
CMG notes the statement by Satellite Information Services
(Holdings) Ltd. ("SIS"), a company in which CMG has approximately a
20.5 per cent. interest, in respect of a five year extension deal
between SIS, Horse Racing Ireland ("HRI") and the Association of
Irish Racecourses ("AIR") for the distribution rights of live
pictures and data of Irish horse racing to licensed betting offices
("LBO") across UK, Ireland and internationally, as well as
additional digital and direct to home rights through to 2023 (the
"Irish Agreement").
CMG understands that the conditions to the Irish Agreement are
expected to be met shortly.
SIS's statement in regard to the Irish Agreement is set out
below in full:
"Horse Racing Ireland (HRI), the Association of Irish
Racecourses (AIR) and Satellite Information Services (SIS) have
today announced that they have reached agreement on a five year
extension (up to the end of 2023) to their current contract for the
distribution of live pictures and data of Irish horse racing to
Licensed Betting Offices (LBO) across the UK, Ireland and
internationally.
Additionally, SIS has secured the sole and exclusive rights from
2017 to stream Irish horseracing to online operators worldwide and
to distribute Direct To Home (DTH) pictures.
The agreement, which was reached last week and is subject to
certain conditions, including ratification next week by the Board
of HRI and the membership of the AIR, means that Irish horseracing
will remain part of SIS's core content package for bookmakers, with
355 fixtures available to major bookmakers for inclusion in their
in-house channels, most of which are produced by SIS. The pictures
and data will also be included in an SIS-produced channel for
bookmakers who currently rely on the SIS FACTS channel.
The new deal provides for the introduction of SIS's innovative
new in-running data capture across all Irish racecourses,
significantly enhancing the betting experience. Using proprietary
algorithms, SIS will deliver real-time betting updates throughout
races, providing instant analysis of this data and graphic
visualisation outputs.
The new deal will create a long term, efficient relationship
between Irish racing and bookmakers. significantly reducing the
'leakage' (as it has been referred to in the media) of value
between bookmakers and racecourse owners, with racecourses
receiving increased income compared to their current arrangements
and bookmakers paying no more than they do at present.
Gary Smith, Chief Executive of SIS added: "This agreement not
only provides continuity but also enhances SIS's offering to its
customers. It ensures that retail bookmakers across the UK and
Ireland, and now internationally, will have access to Irish
horseracing as part of a comprehensive package of content to
support their over-the-counter sports betting businesses for many
years to come.
"We are delighted to now also be able to stream Irish
horseracing internationally, which demonstrates our innovative
approach to moving racing forward to the benefit of all of its
stakeholders. "
John Moloney, Chairman of AIR, said: "As Chairman of the AIR and
of HRI's Media Rights Committee, I am delighted at the agreement
which has been reached with SIS for the sale of Irish racing's
media rights. The interest in these rights reflects the high regard
in which our product is held internationally. The certainty of
funding provided by this long-term media rights deal will underpin
racecourse finances for the next seven years and will enable the
continuing widespread development of facilities for racegoers,
racehorse owners and all those working in the industry".
Brian Kavanagh, Chief Executive of HRI, stated: "This agreement
with SIS is a really positive development for Irish racing and one
on which HRI has been working for several months. HRI is committed
to working together with SIS in relation to issues such as fixture
scheduling and providing a competitive racing programme, and we
look forward to the continuation of our mutually beneficial
relationship with the betting industry, with the joint objective of
growing interest in and turnover on Irish racing."
Carriage of Irish Racing on At The Races (ATR)
The new arrangements will include a review of the future of
Irish racing on Direct-To-Home (DTH) television as SIS intends to
immediately seek proposals for the provision of DTH coverage of
Irish racing from 2017 onwards. This process will be run with the
involvement of HRI/AIR.
Gary Smith, said: "SIS has committed to HRI/AIR to explore
options for the DTH distribution of Irish racing to achieve their
objectives and also to consult with HRI/AIR before proceeding with
any DTH arrangements. SIS enjoys a close relationship with ATR and
would be happy to see Irish racing stay on ATR's channel"
Brian Kavanagh, said: "Whilst recognising that the DTH rights
have now been licensed exclusively to SIS, HRI/AIR has been very
happy with its current DTH arrangements with ATR and is pleased
that SIS has committed to fully explore options with ATR for the
future. HRI/AIR look forward to reviewing the options with
SIS."
Matthew Imi, Chief Executive of At The Races, commented: "ATR
has a long standing and important relationship with HRI/AIR and SIS
in relation to developing Irish media rights and we look forward to
working together to ensure that we all continue to maximise both
exposure for the sport and the value of the rights themselves".
Ends
About HRI
Horse Racing Ireland (HRI) is the national authority for
thoroughbred racing in Ireland, with responsibility for the
governance, development and promotion of the industry under the
Horse and Greyhound Act 2001. Its mission is to develop and promote
Ireland as a world centre of excellence for horse racing and
breeding. HRI has responsibility for the negotiation all media
rights contracts for Irish racing.
About AIR
The Association of Irish Racecourses (AIR) was established in
1964 to promote the interests of horse racing generally in Ireland
and particularly the interests of racecourse owners and executives.
It is run by a board of directors who are elected by its racecourse
members, who represent every racecourse in Ireland. The Chairman of
the Association chairs the Media Rights Committee which negotiates
all contracts relating to media rights on Irish racecourses.
About SIS
Satellite Information Services Ltd is the foremost provider of
facilities and services to the digital and retail bookmaking and
broadcast industries. SIS works with rights holders, broadcasters
and bookmakers, online and in the high street, and offers creative,
innovative and reliable end-to-end products and services across
multiple platforms.
SIS delivers multiple channels of live racing, data and
commentary from racecourses and greyhound tracks in the UK, Ireland
and across the world. In addition, SIS provides data collection and
delivery to online operators, as well as streaming solutions,
online games, virtual content, numbers and lottery games.
About At The Races
-- At The Races is the UK and Ireland's most watched dedicated
horse racing channel. It launched on June 11th 2004.
-- It is a joint venture between BSkyB, Arena Racing Company and other racecourses.
-- Broadcasting 24 hours a day, At The Races is currently
available to over 13 million multi-channel homes across the UK and
Ireland through Sky, Virgin Media and UPC.
-- The channel is officially measured in the UK and Ireland and
regularly reaches 2 million individuals monthly in UK and Ireland
households (BARB & Nielsen).
-- At The Races.com attracts over 2 million monthly unique users
(Google Analytics) and operates its own odds comparison
service.
-- At The Races serves around 7 million video streams each month
via its own streaming division, Sport Mediastream.
-- At The Races is distributed into 5,800 commercial premises by Sky.
-- Outside the UK and Ireland, At The Races distributes its
content into over 30 countries by means of GBI Racing, its joint
venture operation with Racing UK."
Enquiries:
Catalyst Media Group plc
Michael Rosenberg, Non-Executive Chairman +44 (0)7785 727 595
Melvin Lawson, Non-Executive Director +44 (0)20 7734 8111
Strand Hanson Limited +44 (0)20 7409 3494
James Harris
Richard Tulloch
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEAADKELEKEAF
(END) Dow Jones Newswires
March 07, 2016 02:00 ET (07:00 GMT)
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