International Speedway Provides Additional Details on NASCAR Television Agreements
October 03 2006 - 6:38PM
PR Newswire (US)
DAYTONA BEACH, Fla., Oct. 3 /PRNewswire-FirstCall/ -- International
Speedway Corporation (NASDAQ:ISCA) (OTC:ISCB) (BULLETIN BOARD:
ISCB) ("ISC") today provided additional details on NASCAR's
domestic broadcast rights contracts for its NEXTEL Cup, Busch and
Craftsman Truck series, as well as other related programming. In a
press release dated December 7, 2005, NASCAR announced it had
reached eight-year comprehensive agreements with a combination of
networks that includes FOX, ABC, ESPN, TNT and SPEED. The combined
eight-year (2007 through 2014) agreements are expected to total
approximately $4.48 billion for the industry. As a result, the
average annual rights fee is expected to approximate $560 million
per year, an estimated 40 percent increase over the current
average. According to NASCAR Broadcasting, LLC, the total current
industry estimate for domestic television revenue in the year 2007
is approximately $505 million, with increases, on average, of
approximately three percent per year through the 2014 season. The
annual increase is expected to vary between two and four percent
per year. The series allocation of the 2007 industry revenue is
estimated at $473 million for NEXTEL Cup events, $29 million for
Busch races and $3 million for Craftsman Truck events.
International Speedway Corporation is a leading promoter of
motorsports activities in the United States, currently promoting
more than 100 racing events annually as well as numerous other
motorsports-related activities. The Company owns and/or operates 11
of the nation's major motorsports entertainment facilities,
including Daytona International Speedway in Florida (home of the
Daytona 500); Talladega Superspeedway in Alabama; Michigan
International Speedway located outside Detroit; Richmond
International Raceway in Virginia; California Speedway near Los
Angeles; Kansas Speedway in Kansas City, Kansas; Phoenix
International Raceway in Arizona; Homestead-Miami Speedway in
Florida; Martinsville Speedway in Virginia; Darlington Raceway in
South Carolina; and Watkins Glen International in New York. Other
motorsports entertainment facility ownership includes an indirect
37.5 percent interest in Raceway Associates, LLC, which owns and
operates Chicagoland Speedway and Route 66 Raceway near Chicago,
Illinois. In addition, ISC is a limited partner with Group Motorise
International in the organization and promotion of certain events
at Circuit Gilles Villenueve in Montreal, Canada. The Company also
owns and operates MRN Radio, the nation's largest independent
sports radio network; DAYTONA USA, the "Ultimate Motorsports
Attraction" in Daytona Beach, Florida, the official attraction of
NASCAR; and subsidiaries which provide catering services, food and
beverage concessions, and produce and market motorsports-related
merchandise under the trade name "Americrown." In addition, ISC has
an indirect 50 percent interest in a business called Motorsports
Authentics, which markets and distributes motorsports-related
merchandise licensed by certain competitors in NASCAR racing. For
more information, visit the Company's Web site at
http://www.iscmotorsports.com/. Statements made in this release
that express the Company's or management's beliefs or expectations
and which are not historical facts or which are applied
prospectively are forward-looking statements. It is important to
note that the Company's actual results could differ materially from
those contained in or implied by such forward-looking statements.
The Company's results could be impacted by risk factors, including,
but not limited to, weather surrounding racing events, government
regulations, economic conditions, consumer and corporate spending,
military actions, air travel and national or local catastrophic
events. Additional information concerning factors that could cause
actual results to differ materially from those in the forward-
looking statements is contained from time to time in the Company's
SEC filings including, but not limited to, the 10-K and subsequent
10-Qs. Copies of those filings are available from the Company and
the SEC. The Company undertakes no obligation to release publicly
any revisions to these forward-looking statements that may be
needed to reflect events or circumstances after the date hereof or
to reflect the occurrence of unanticipated events. The inclusion of
any statement in this release does not constitute an admission by
International Speedway or any other person that the events or
circumstances described in such statement are material. DATASOURCE:
International Speedway Corporation CONTACT: Wes Harris, Senior
Director, Corporate and Investor Communications of International
Speedway Corporation, +1-386-947-6465 Web site:
http://www.iscmotorsports.com/
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