Tabcorp fails to reach TV rights deal on horse racing

Australia’s Tabcorp said its Sky TV unit had failed to reach an accord to extend a contract for the rights to show thoroughbred horse racing in Victoria and New South Wales on its channels.

The firm said that wagering would still be supported, but without vision.

A long-term contract between Tabcorp and ThoroughVisioN Pty expired in Dec. 2012 and has since been moving forward on a series of rollover contracts, while a new long-term agreement was negotiated.

However, Tabcorp said TVN had failed to accept its latest proposal for a package and as a result it had decided that further short-term rollovers wouldn’t deliver a longer accord. It said it will continue to work towards a resumption of coverage.

Meanwhile, the company said it will seek special leave to appeal to the High Court of Australia over a $686 million ($560 million) payment it claims it is owed by the state of Victoria.

Its case was rejected by the Supreme Court of Victoria on Dec. 4th.

 

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