AMRAC Racetrack Deals (8292T)

TIDMTMW

RNS Number : 8292T

Timeweave plc

13 December 2011

13th December 2011

Timeweave plc

("Timeweave" or the "Company")

AMRAC ACQUIRES BROADCAST RIGHTS FOR THREE ADDITIONAL UK TRACKS

Timeweave is pleased to announce that AMRAC, its joint venture company, has signed exclusive media rights agreements for three additional UK horse racing tracks.

Under the terms of the media rights agreements, AMRAC has obtained the exclusive rights from 1 May 2012 to distribute live coverage to licensed betting offices in the UK and the Republic of Ireland of all horse races from the courses at Exeter, Perth and Kelso. These agreements demonstrate significant progress in the development of AMRAC's strategy and, with effect from 1 May 2012, 34 of the UK's 60 race tracks' pictures and data rights will be licensed to AMRAC until 2018.

All five Scottish race tracks, Ayr, Hamilton, Musselburgh, Perth and Kelso are now within the AMRAC portfolio of broadcast rights agreements and the new media rights agreements announced today are a strong addition to the already compelling Turf TV proposition. In particular, the addition of three National Hunt tracks strengthens the Winter/Spring schedule and increases the number of fixtures in a full calendar year by approximately 7%.

David Craven, Chief Executive of Timeweave, today commented:

"These deals represent the achievement of a further milestone in the strategic aim of AMRAC to provide a more compelling service to Turf TV's customers. We are pleased the operators of these three tracks recognise the strengths of our well established joint venture business and, with our partner, our enthusiastic continued support for the industry.

"Turf TV is proud to deliver a premium racing broadcast service to licensed betting offices in the UK and the Republic of Ireland from the majority of UK racetracks."

For further information, please contact:

 
 Timeweave plc 
 David Craven, Chief Executive    +44 (0)7738 438 376 
 
  Investec Bank plc 
 Rowena Murray                    +44 (0)207 597 5970

Timeweave plc ("Timeweave") is the holding company of a group which principally comprises a 50% shareholding in Amalgamated Racing Limited ("AMRAC"), the sports hedging business SportingWins and cash deposits.

AMRAC is an equally owned joint venture company between Racecourse Media Services Limited (which is in turn owned by a number of the UK's foremost racecourses and Racecourse Investments Limited) and Timeweave. AMRAC holds exclusive licences with 31 racecourses (rising to 34 from 1 May 2012) to broadcast pictures, audio and data from these courses to licensed betting offices in the United Kingdom and the Republic of Ireland on its dedicated television channel, TurfTV.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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