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AttheRaces Fails to Resolve Dispute

23 January 2004

UNITED KINGDOM – As reported by the UK Guardian: "Horseracing consortium AttheRaces, which comprises Channel 4, BSkyB and Arena Leisure, has failed to resolve its row with the Racecourse Association over betting revenues, putting its £307m (US$558.26 million) TV deal and the future of several smaller courses at risk.

"The company, which operates a digital racing channel, interactive betting service and website, said today that a 90-day deadline to reach an agreement with the association, which represents 49 or Britain's 59 racecourses, passed last night without a deal being reached.

"AttheRaces executives said today they would meet 'within the next week' to decide on the best course of action but they are widely expected to try to negotiate a reduction to the £307m 10-year deal they signed in June 2001.

"…AttheRaces is widely thought to have overpaid for the 10-year media rights deal it struck with the Racecourse Association in summer 2001…"

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