FEATURE: With TVN and Tabcorp’s SkyChannel falling out after years of short-term agreements and brick-wall negotiations, the way in which people watch horse racing will change.
Sky continues to reject TVN’s demands, and TVN continues to reject Sky’s demands.
Racing NSW has walked away from the dealings completely, effectively removing coverage of NSW metropolitan and country racing from TVN’s channel on Foxtel, and associated online streams via Racing Network. Victorian racing will go it alone – but how that will be possible is not clear.
Where does that leave us, and can logic ever prevail in racing?
This feature is intended to document as much relevant material on the stakeholders involved, providing readers with a summary of public information, plus commentary.
The parties involved
Racing NSW
New South Wales racing is regulated by Racing NSW, the Principle Racing Authority in the state. This body was established in 1996 – first called the AJC Principal Club and in 1997 the NSW Thoroughbred Racing Board before becoming Racing NSW in 2004 – taking control from individual racing clubs and handing it to an overseeing body.
Racing NSW, importantly, explicitly controls broadcast agreements.
As per the published functions and powers of the body, racing bodies (eg. clubs) need agreement from Racing NSW when organising broadcast rights. Almost by default, Racing NSW controls all NSW racing broadcast rights – vision, radio and digital streaming. Most recently, NSW Country racing, along with NSW’s Provincial Racing, signed over their broadcasting rights to Racing NSW to negotiate on their behalf midway through 2013. These rights were provided to TVN.
Racing Victoria
In Victoria, Racing Victoria exists as the Principle Racing Authority. It is set-up differently to Racing NSW. In what might be a surprise to some, Racing Victoria has minimal control over broadcast rights and is at the mercy of the four clubs it offers oversight to: Moonee Valley Racing Club, the Victoria Racing Club, Melbourne Racing Club and Country Racing Victoria, on behalf of Victorian country race tracks. Racing Victoria controls precious little outside of stewarding.
(By comparison, both harness racing and greyhounds racing have a single controlling body.)
This is extremely unusual. As the excellent Patrick Bartley reported for Fairfax: “…it’s the only sporting province in the southern hemisphere that allows four racing clubs to hold the vision and media rights”. Former AFL chief executive Ross Oakley told Fairfax that this was an “astonishing situation”, akin to AFL or NRL clubs individually owning their broadcast rights, giving way to self-interest. Would Collingwood, for example, take the same share as Greater Western Sydney? Would the Brisbane Broncos take the same share as the Gold Coast Titans?
Bartley says Racing Victoria is under close watch by the newly elected Victorian Labor government. Although not directly involved, the government is said to be concerned at who holds the power in Victoria. There is a possibility of a racing commission taking the place of Racing Victoria if the right legislation is passed .
TVN
ThoroughbredVision (TVN) was established in 2005, half-owned by the four Victorian thoroughbred racing clubs and half-owned by Sydney’s metropolitan racing clubs, the Australian Turf Club (ATC).
TVN was set-up as an alternative to Sky Racing in an attempt by these racing clubs to “capture the valuable assets of racing media rights and leverage them to the benefit of racing”.
The truth, as always, isn’t clear and is told by many people differently. Max Presnell, writing for Fairfax, noted recently: “TVN came into being because of the goodwill of the AJC, STC and Victorian clubs looking for a better deal for their product than SkyChannel, tyrannical at the time, wanted to give. Racing was the winner.”
TVN offers a standalone TV channel, and previously sold the rights to NSW and Victorian racing to SkyChannel before negotiations broke down in mid-December.
TVN also streams its digital rights in partnership with Telstra, known as Racing Network, via web and apps for mobile. The online offering was free for some Victorian and NSW races, with all races, replays, form and more available for paid subscribers.
Finances: In terms of financial position, TVN discharged debts of $27 million in early 2013 when it became the aggregated television rights owner for Victoria and NSW racing but rumours of significant debt remain.
Multiple sources have confirmed that TVN has received approximately $200m in funding from TV rights purchased by Tabcorp-Sky since 2005 – revenue of close to $20 million a year. http://www.smh.com.au/
As recently as Sunday night, Fairfax reported that TVN’s debt is as high as “tens of millions of dollars”.
Tabcorp
Tabcorp Limited owns the NSW and Victoria Totaliser, TAB Sportsbet, Keno in clubs, TV channels Sky Racing 1, 2, and World, and Sky Sports Radio. Tabcorp has approximately 2800 TAB retail outlets at pubs and clubs across NSW and Victoria. Tabcorp also owns Luxbet.com, an online bookmaker.
Tabcorp was established in 1994, listed by the Victorian Government on the stock exchange (ASX:TAH). In 2004, Tabcorp, by means of take over of TAB Ltd, purchased the NSW TAB. The NSW TAB was privatised in 1998, with licences for the conduct of both on-course and off-course
totalisator betting in New South Wales issued to TAB Limited. The totalisator licence is a 99-year term, ending in 2097.
SkyChannel, Tabcorp’s subsidiary, is broadcast into pubs and clubs and TABs across both Australia as well as Foxtel, with country pubs and clubs often not holding a Foxtel subscription to allow them to broadcast TVN.
Finances: Tabcorp is not owned by either state government. According to Tabcorp, the largest shareholders are broker nominees such as JP Morgan and HSBC.
Intriguingly, as with Listed companies, fully franked dividends to shareholders represent approximately an 81% payout of net profits after tax.
In simple terms, 80% of profits flow to non-racing bodies and members.
For the twelve months to June 2014, according to independently verified share market data releases, Tabcorp paid taxes on gambling of $439.3 million, and returned $342 million to the Victorian racing industry, and $246.2 million to the NSW racing industry, plus race field fees of $73.3 million.
The exact breakdown of those fee payments was not available from Tabcorp’s annual reports and associated documents, although The Roar does not suggest that this breakdown is hidden.
Both Racing NSW and Racing Victoria have close relationships with Tabcorp, although Racing NSW appears closer based on media comments. Racing NSW’s Peter V’Landys recently told The Australian Financial Review he had ruled out an increase in race fields fees – despite Racing Victoria and Racing Queensland announcing an increase – saying it would hurt Tabcorp.
V’Landrys told AFR: “We want a strong Tabcorp because if they are doing well then we are doing well too. We still get most of our funding from them.”
The future of broadcasting – the full picture – the flow of money
Equations, when it comes to racing, always start with the punter and owners. Punters part with billions, while owners pick up the shortfall between winning and losing for the majority of horses that don’t bankroll themselves. Racing NSW estimated that owners provide approximately $200 million a year in the gap between owning winning horses and owning horses that can’t run a place.
Tabcorp receives annual revenue of around $1.5b from its wagering division, based on turn over of around $9 billion of bets each year, with the majority of that via thoroughbred racing, thanks to punters who bet on anything from the Melbourne Cup to the Scone Cup.
Corporate bookmakers take a share of punter cash as well – with turnover of $5.7 billion reported in 2013.
Both pay relevant taxes. Tabcorp delivers around 7 per cent of betting turnover back to racing. Corporates, as they are known, return closer to 2 per cent.
Corporate bookmakers are usually set-up to be governed by the Northern Territory. The Top End grants generous tax breaks in return for tax revenue. William Hill Plc, an English-based bookmaker, owns a significant portion of the corporate bookmaker landscape in Australia, having set-up Sportingbet, and purchased Tom Waterhouse (who is now the Australian CEO for William Hill) and Centrebet.com.au, giving it a large slice of the market – and operates from the NT. Irish bookmaker Paddy Power purchased Sportsbet.com.au in 2009, with Sportsbet also regulated in Australia by the Northern Territory.
Racing NSW won a High Court battle which secure $100m for the state in racing funds, based on forcing the bookmakers to change the accounting methodology used to pay turnover fees.
BetEasy, set up by former Sportsbet CEO Matt Tripp after taking over the previously known ‘BetEzy’, brokered a deal with James Packer’s Crown group to hand over control and refashion the company, taking control of Betfair’s fixed odds business. BetEasy has pursued an aggressive marketing campaign by sponsoring a number of sporting events and teams, as well as the AFL, outbidding Tabcorp.
Fairfax figures from 2014 indicated that the entire sector based in the Northern Territory paid just $2.3 million tax on turnover of $5.7 billion and profit of $469 million for the 2012-13 period, although these companies did pay additional race field fees.
Interestingly, Luxbet.com, owned by Tabcorp, is also set-up in the Northern Territory to minimise tax while competing in the online marketplace.
On one hand, tax breaks and reduced fees grant bookmakers more ability to offer increased odds to punters, increasing returns for winning bets. On the other, this reduces revenue to governments and racing authorities.
Punters are increasingly betting via mobile and web and are able to hunt for best odds. The best odds are rarely questioned in terms of ‘where is my money going’. Punters seek to maximise ROI.
Corporate bookmakers insist that Tabcorp’s exclusive retail offering, in which they are the only gambling company allowed to have shopfronts for betters to make anonymous cash transactions in person, mean that higher fees are fair for the company, and should be far higher given that exclusivity.
Tabcorp consistently demand an even playing field when it comes to fees and funding Australian racing.
TVN: A new source of income – or new debts?
TVN operated to attempt to generate income for race clubs – both directly through licensing and broadcast revenue to media rights buyers, and indirectly through further pushing racing to the public and arming punters with as much information as possible – encouraging attendance and betting.
As we’ve seen, the clubs’ source of funding is primarily via Tabcorp. Previously, on-course bookmakers were key contributors but online competition has led to their relative demise. Corporate bookmakers contribute smaller amounts.
TVN offers advertising to offset production costs, and has promoted corporate bookmakers via integrations and key advertising slots. AFR points out that TVN has waxed and waned on its advertising arrangements, removing corporate bookmakers from the channel and then reinstating them with a series of packages being offered.
Indeed, TVN has often been at the centre of board disputes and been without a board completely. Self-interested clubs as well as old wars between NSW and Victoria led to many breakdowns. The AFR reported on the dysfunctional board allowing commercial deals to slip, with chairmanship rejected by former News Limited boss John Hartigan.
AFR pointed out that TVN has never had a chief executive with mainstream television experience, nor a board with major media business experience. (CEO Bruce Mann, while incoming to the role, noted that the constant conflicts were “borne out of deep passion”.)
A number of unusual deals can be pointed out that highlight TVN’s struggles to thrive, while a litany of other unusual dealings are also worth noting.
1. The first is the deal with Foxtel to establish a racing channel on commercial TV.
Here’s the Financial Review in 2013 on the matter:
The Financial Review … understands TVN is costing itself a further $10 million in profits due to having to roll over its contract with Foxtel. TVN pays $2 million a year to be carried by the pay-TV provider until mid-2013, but management believes Foxtel should be paying TVN up to $7 million annually given the viewers and subscribers it attracts to Foxtel.
The Foxtel deal was carried over from last year until mid-2013. However, Foxtel management is believed to be getting increasingly agitated by the inaction at TVN. Indeed, Foxtel marketing does not refer to TVN in relation to any Foxtel packages available to subscribers, due to uncertainty surrounding the next deal.
In summary: TVN pays Foxtel $2 million annually to be carried on pay TV, yet could be getting paid up to $7 million annually. (Again, it would seem unlikely that AFL, NRL, V8 Supercars or other significant sports would need to pay Foxtel to offer an attractive live sport channel.)
2. The second is the extraordinary deal TVN struck with free-to-air broadcaster, Seven.
TVN pays Seven $2.2 million for airing 27 race meetings via a ‘clean-feed’, which means it is free of advertising. TVN also pays the majority of production costs. (Note this excludes the Melbourne Cup Carnival, which includes the Melbourne Cup race itself.)
Seven are able to advertise on the channel – which it does to the tune of around $5-$6 million each year, yet it does not share in any revenue has TVN board members fuming.
Fairfax report TV insiders called it “the best sporting deal done by Channel Seven”. For TVN, the deal was binding, and signed for two years. However, a three-year option that Channel Seven can (and almost undoubtedly will) take is available. The five year period could cost TVN some $11 million by the end of that period.
The deal was signed at the time by CEO Peter Sweeney before his retirement, and he was hauled before the Board to explain the deal before he left the company. No public details emerged from that meeting of the board and Sweeney.
3. The third deal is the TVN purchase of racing magazines Best Bets and Winning Post from owner at the time, Peter Sidwell. The Sunday Age showed at the time that TVN paid $12 million for the publications, and likely paid an additional $2 million earn-out fee in 2009. Sidwell had purchased Winning Post for $2.4 million in 2006, while already owning Best Bets.
The value of both publications is said by insiders to now be closer to less than half a million dollars as online information takes the place of printed magazines.
4. In 2013, three TVN hosts were suspended for three months by the company, following findings of gross misconduct and serious errors of judgment. The hosts had allegedly accepted shares in a horse gratis, and failed to disclose the ownerships to viewers when making what was deemed to be ‘favourable comments’.
CEO at the time, Stephen Dole, confirmed the suspensions: ”The staff members have acknowledged the gravity of the matter, their serious errors of judgment and sincerely regret their conduct,” he said in a statement.
5. A separate point is the emergence of unusual consultancy payments, reported back in 2012. Fairfax writer Chris Roots published the rumoured deals. In particular, a monthly payment of $30,000 to a consultant that commenced at the foundation of TVN in 2006 and continued thereon spelled the end of Peter Sweeney, who lost support from TVN stakeholders before his later retirement.
That contract was stopped, but not before a huge cost over six years to TVN. (Fairfax later revised this claim, with a recent article noting a certain consultant or adviser received $10,000 a month for six years – although Fairfax noted the “role [was] little more than to call in once a month to chat with staff”.)
TVN publishes no Annual Report, and various club and body Annual Reports don’t clearly show the impact of TVN, negative or positive.
Given the financial position of the company, as previously noted, TVN is a net drain on its owners.
A photo of what appeared on screen on the first day of the 2014 dispute – 17th December. (Image: Jason Cornell)
TVN as stands now – a timeline of events leading to the certain demise of the business
In the lead up to Christmas, TVN and SkyChannel were negotiating the next of their vision contracts – attempting to move on from short-term roll-over deals to a new long-term contract. Both parties have been at war for years. In 2010, another dispute over coverage rights ended up in the Victorian Supreme Court.
SkyChannel, despite some rumours of Channel Seven and Foxtel being involved in rights discussions, remain the only real legitimate and significant bidder for the rights to all thoroughbred racing across NSW and Victoria.
Those talks broke down in mid-December, and resulted in SkyChannel losing the rights to horse racing from December 17.
In a sequence of press releases, Tabcorp stated it “put an attractive package to TVN, which has not been accepted”. TVN boss Bruce Mann accused its rival television station of being “unwilling to give us fair value for our rights”.
Reporting from Racing.com (Racing Victoria’s media division), Fairfax, and News Corporation indicated that TVN was believed to have been seeking a $40 million annual fee via a short-term agreement. SkyChannel are believe to have offered $30 million per year on a long-term arrangement.
Negotiations continued, but TVN was ripped apart on Christmas Eve, with Racing NSW and the ATC walking away from TVN, splitting from the company, leaving it with only Victorian rights, despite 50% ownership from the ATC.
Racing Victoria published a 1935 word missive on Boxing Day, backing TVN and slamming Racing NSW for their meddling and the resulting disaggregation. Even so, Racing Victoria has no control over the dealings without the media rights.
Racing NSW and the ATC have provided little public commentary to the decisions made by it, nor voiced their concerns with negotiations outside of short media grabs.
This is very different from an interview given by V’Landys in 2012 when NSW and Victoria came together, and the Racing NSW CEO makes note of the importance of aggregation of rights and the ability to be ‘divided and conquered’ as separate entities:
The future: how you’ll watch racing coverage
NSW: NSW Racing may return to SkyChannel as soon as New Year’s Eve, or from New Year’s Day. One roadblock of the deal has been made public, with V’Landys mounting an assault on the $5 per month extra subscription fee that subscribers must pay to Foxtel to receive the second tier of SkyChannel’s offering, which includes smaller provincial races and world horse racing.
V’Landys has outright refused to broker a deal without the fee for that second tier being removed, in a push to give punters a fairer go – and possibly attempt to gain some goodwill.
Little will change in terms of availability of NSW Racing. Those looking to watch racing in NSW will likely need Foxtel to watch live racing outside of major carnivals, or TABs, and what is available via the Seven Network’s contracted meetings.
NSW racing is unlikely to be provided to corporate bookmakers or offered online.
Victoria: Victorian racing, on the other hand, looks set for a major shake-up.
Without the support of Racing NSW, TVN is almost certainly doomed in its current guise. Rumours of nervous creditors and the possibility of administrators winding up the existing company continue.
Victoria-only appears to be the way forward for thoroughbred vision in the state, with Racing Victoria making a statement pushing for more free-to-air coverage, calling it “critical” for the growth of the sport, with the CEO acknowledging that Victorian racing needs to be on SkyChannel in “800 venues” across Victoria.
Victorian Racing will undoubtedly be broadcast by SkyChannel but the permafrost relationship with Sky/Tabcorp is likely to drag negotiations.
The future of broadcasting for TV is clearly online, but live sport continues to hold significant traction with TV audiences and the increased number of digital channels used by networks demands quality programming.
Rumours published by News Corporation indicate that the James Packer owned BetEasy is, at least, planning to stream Victorian racing online if a bid is accepted by the Victorian clubs. The Australian notes this offer is likely to be half of what TVN had been quoting corporate bookmakers for rights to NSW and Victoria – previously a fee of 0.5 per cent of turnover on streamed races, with a minimum fee of $1.5 million.
What must happen
While racing claims to be the third most attended sport in Australia, there is a huge divide between keen punters and those that attend more to socialise; the two converge on just a few small days of the year.
Although there is no question that the Melbourne Cup remains the biggest sporting event in Australia, punters – when blackouts aren’t interfering – are usually better serviced at home, with a fast internet connection and more ability to research and get multiple sources of information.
Digital is therefore an intriguing proposition. The question of who will pay the costs of running a significant streaming service for just one state’s racing is an open one. Charging subscribers who simply want to be able to punt and watch their horse and jockey race is not best for punters unless significant premium attributes are included. Advertising on a paid service always rubs those who have paid the wrong way, and advertising alone, in this age, is unlikely to cover enough costs.
The value to the punter and the eventual flow of money back to clubs is hard to quantify from a growth in digital availability, but removing that barrier to entry cannot hurt.
Certainly, an improvement to the quality of broadcast must be sought by all stakeholders. Live sectionals, more parade ring vision and more information should be goals. Tipsters and those providing expert analysis must be held accountable and be transparent. The availability of race replays for form must also continue.
Racing can’t be treated as a pseudo-gaming endeavour, where numbers run around a track at different odds as per the TAB’s TrackSide simulation game.
Racing is often dogged by those unwilling to embrace change. As mentioned by Max Presnell, Gary Lester’s book The Essential Club – A History Of The Sydney Turf, notes former Sydney Turf Club Chairman Pat Parker listing memorable revolts against change: “STC doomed to fail” (1943), “Racing in An Uproar – The STC wants to introduce new equipment, known as the photo-finish camera”: (1946), “Protest Over Mechanical Monster – introduction of barrier stalls” (1948) and “New Race [Golden Slipper] for two-year-olds Certain To Fail” (1953), and more.
The first step is to move on from self-interest and short-term dash-for-cash deals, and place the future of the sport, as a whole, in the best hands.
That would appear to be a national body that removes state and regional conflicts around broadcasting and get the focus of the sport back on servicing patrons, owners, and punters.
Update 1: Fairfax are reporting that the dispute between Tabcorp, TVN, Victorian Racing and NSW Racing has ended, with racing from Victoria and New South Wales expected to be on SkyChannel as early as today, New Year’s Eve.
However, Tabcorp officials told Fairfax the removal of restrictions on vision from Victoria and NSW was “only a temporary measure”.
Paul Peters
Roar Rookie
Participants ie Jockeys don't want TVN to end neither do serious punters. The reason this is collapsing is due to the unhealthy relationship between Tabcorp & Racing NSW & because too many egos are involved. Surely it can't be that hard to run a channel that showcases your product. If people think SKY will come close to what we are getting now you are seriously mistaken, once TVN is gone they will do what they want. This is so short sighted of Racing NSW & Racing Victoria that it makes you wonder if the governements should not step in & sack the lot of them. Look at the disgraceful race programming in NSW, their showcase day, ie Saturdays, is full of shockingly small fields, but all V'landys can do is blow his own trumpet regarding the Championships for his rich friends. The ATC is a puppet for Racing NSW & can't make any decisions on their own, they should just be swallowed up by Racing NSW. Their is no leadership in NSW & we are all going to be wose off once TVN folds.
Jason Cave
Guest
It looks like the Sydney Autumn Racing Carnival will be the last time TVN goes on the air. It's a shame really, because TVN would've taken a lot of the pressure off Sky Racing wall-to-wall racing coverage-if it had been handled better by Tabcorp and the racing clubs and organisations of the two powerful states of Australian racing, NSW and Victoria. Now, can you see why we need a national racing body ASAP?
Bondy
Guest
The end appears nigh for TVN disappointing really. ( http://www.news.com.au/sport/superracing/directors-meeting-fails-to-set-shut-down-date-for-horse-racing-network-tvn/story-fndpqu3p-1227186314341) ..
Casper
Guest
hopefully Qlders considering the upcoming election will take note that 99 year deals (lease of electricity assets) are a dud call and reject that type of madness. Must be some form of 'retribution' the clubs/TABs can apply to NT corporates to level the playing field. Why not charge anyone based in the NT 10 times the fee for use of their race fields. This proves that state governments are useless and think only of the next 3 years.
Albo
Guest
Gotta agree with you Paul ! The TVN format is certainly the superior coverage for thoroughbred racing enthusiasts ! But under its current pathetic governance its operation is a financial disaster. Sky / TABCORP is soley focused on being a 24 hour money making business out of punters, with little interest in the quality of coverage for racing enthusiasts. With them holding the whip hand now, I can't see a TVN format lasting but for some token offerings to appease, and to put to bed their "take over" ! The whole industry is just now placed further under threat via this digital age with simulated racing / betting available 24/7 . Who needs real horses anyway, when you can collect all the desperate punters dollars via software games called "horse racing"???
Strummer Jones
Guest
Correct! Another subject, but this is the problem now with the Intercode Agreement between gallops, trots and greyhounds. Greyhound racing is the only code growing in TAB betting whilst the others are in decline. Unfortunately the NSW Greyhounds signed a 99 year agreement on TAB proceeds with the other two codes which they now regret.
Paul Peters
Roar Rookie
How can Racing NSW & Vic turn their backs on TVN. The concept of TVN is great, obviously the way it has been run hasn't been. Paying consultants to do nothing, paying Foxtel when Foxtel pays all other sports, these are just some of the problems. Bruce Mann in 2013 promised his would be on free to air, why isn't it? One of the board of directors is Peter V'Landys. How can he keep a job when he was part of the TVN problem & his solution is now to shut it down & go back to wall to wall racing. This is a farce. If I ran a business like this.... The ATC need to get together with their Victorian counterparts & put a stop to this, how hard would it be to make TVN profitable, the wrong people are clearly involved with the running of TVN so get rid of them. What are the respective governments doing about this-as usual nothing. SKY/Tabcorb will continue to dictate to us punters to our detriment. This to me is a sad day for racing & to see people just standing by & doing nothing about it is more sad. I would rather the NSW government put money into TVN if run properly then see the championships for 2weeks each year. I wish someone with a bit of foresight would do something here because I do not want to go back to the wall to wall racing of SKY.
Ken Biggins
Guest
RVL have been trying to strip the TAB of funds for 20 years. Unable to grow the sport and funding, easier to try to take more funds from TAB. The Bookies pay little money to run their billion $ business. There have been manybook maker businesses sold for many hundreds of millions with little return to racing. The bookies are akin to card counters in gaming, having the ability to have info that the mug punter doesn't. Thank god for NSW racing. They know RVL is all about taking a bigger slice of the pie and not growing the pie. Their are too many bookies or supporters representing their interests on the RVL board and racing committees.
ScottWoodward.me
Roar Guru
Mike You will always struggle to get "fair and balanced" reporting when the subject is a major advertiser. The TAB own radio and TV stations and invest hundreds of millions in advertising which buys them bias. Lucky we have Tristan and the Roar.
Drew H
Guest
.....and they've done a poor job doing a K Packer World Series Cricket type of upgrade to horse racing. They never will know how to update because they've already promised too many future profits out.
Drew H
Guest
Where the racing bodies have drawn correlation between the publishing of fields, betting and royalties, you'd reckon that TV rights would be equally strapped up. (something like a one for one basis or unit quantity driven) I really cannot relate to the rationale of CEO's. It defies sense, even if it occasionally has face value logic in words. If you ask me, and of course you don't, the owners should own all royalties for naming and putting forth their horses. The horses are the actors and the owners are the managers. ( that's if we see the whole thing as a TV show) Of course I don't see the thing as a show. Racing is its own entity that can call on a specific cabinet portfolio for gov reg. I loved the old idea that a TV station could make money from advertising. Get ya fingers out..
Mike from Tari
Guest
Very interesting, I have been waiting for someone to do an "in depth article"on this so I can know what is going on, I live in Qld & the Courier Mail has had hardly any reporting on this situation. Where the hell did TVN get their CEO's & Board Members from, after the first fight they had with Sky over money how would they do that Deal with 7.
MAX
Guest
Thank you Tristan, most appreciative for you putting it all together. It would appear that TVN may have undisclosed and unfunded liabilities of substance. The 'confidentiality agreement' is about to get the work out of the decade and the Silks enough of a 'good little earn' to build an Opera House. Which entity, including offshoots of Racing NSW and Racing Victoria will be ultimately responsible for these debts especially entitlements to staff be they salaried or contracted? I understand unfunded Superannuation was a prime mover in the TAB being privatised. We can only hope that Moore Park learns from this fiasco and never allows Rugby League to suffer the same fate.
Drew H
Guest
Lucky that we don't have unions striking over current issues. Perhaps a few union strikes would be far more effective in bringing the good to you. The real work goes into the building of networks. There's no way that an administrator will ever see this though. Who should slice up the pie? Really guys, the unions already had the balance of consideration needed to be effective. They had workers at mind and also held futures prospects closely at mind. They didn't shoot themselves in the foot like we're seeing now.
ScottWoodward.me
Roar Guru
Rob, Great points Rob. The small fields in Sydney is related to management or lack of. I have accused senior management at the TAB of being in bed with Racing NSW and they did not deny it. I have no problem with the close link but when the entire industry suffers someone in Canberra should step in. The ONLY way I can see a change is if who ever wins the next Fed Election wins with a mandate so change can happen.
Rob
Guest
I am a part owner of a couple of horses.. One an abject failure, The other has given us the biggest thrill in our life winning races in SA and Victoria. We love our horseracing! Small punters but with a big love of the sport and everything associated with it. Never once, in this article, or any other articles of this subject has any of the other states been mentioned. Yes, I know, bettong arrangements in NT were discussed.....blah blah blah When will they learn that they are holding everyone one else to ransom while this garbage continues. NSW Racing should really concentrate more on getting a better average of 7-8 horse fields at there Saturday meetings. That would create a little interest in there product! Give the owners and little punters a break. Bloody selfish!
up in the north
Guest
Great read Tristan. What a bloody mess. It really needs to be treated as a national issue, or it will never improve. The same applies with all sports in this country, the sport itself doesn't seem to own it's own product.
up in the north
Guest
Great read Trystan. What a bloody mess. It really needs to be treated as a national issue, or it will never improve.
Tristan Rayner
Editor
It's a deal open to criticism. Unlikely either company could've predicted the pace of digital growth, but perhaps that's why 99-year deals shouldn't exist.
Tristan Rayner
Editor
Hi Allanthus, Cheers. Channel 7 do a decent job in the parade ring but leave plenty to be desired when plugging their own celebs. Francesca Cumani and Simon Marshall in particular do genuinely offer terrific insight when given a chance, and the jockey cam of an entire race is fantastic, but there's a lot to be desired for punters when the celebs are 'interviewed'. I'm sure Chris could've explained! ;) Best for the New Year mate.