Updates

Arena - New Attheraces agreement

June 2004

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Arena has announced new developments within Attheraces. As part of this, Channel4 has exited the arrangement with Arena and BSkyB each increasing their holding in Attheraces to 50%. The two parties have paid just £1.25m for Channel4's equity stake and its £23m of advanced loan notes. There is also a provision for racecourses to become equity holders in due course. Attheraces has already agreed key commercial deals for media rights with Ascot Racecourse, Chepstow Racecourse (eight courses), GG Media (ten courses) and Arena (six courses). In total, Attheraces therefore has 25 UK courses - out of the 49 with which it had originally contracted - that have once again sided with it rather than defecting to the satellite broa ...

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