International Speedway Provides Additional Details On NASCAR's Landmark Media Rights Agreement ~ NBC Sports Group Reach Multi-Year Deal with NASCAR
DAYTONA BEACH, Fla., July 24, 2013 /PRNewswire/ -- International Speedway Corporation (NASDAQ Global Select Markets: ISCA; OTC Bulletin Board: ISCB) ("ISC") today provided additional details on NASCAR's domestic broadcast rights contracts for its Sprint Cup, Nationwide and Camping World Truck series, as well as other related programming.
In a press release dated July 23, 2013, NASCAR and NBC Sports Group announced they have reached a 10-year comprehensive agreement granting NBCUniversal ("NBC") exclusive rights to the final 20 NASCAR Sprint Cup Series races, final 19 NASCAR Nationwide Series events, select NASCAR Regional & Touring Series events and other live content beginning in 2015. Further, NBC has been granted Spanish-language rights, certain video-on-demand rights and exclusive 'TV Everywhere' rights for its NASCAR Sprint Cup Series and NASCAR Nationwide Series events. Financial terms were not provided but according to NASCAR it is the largest media rights deal in the sport's 65-year history.
Of NBC's 20 NASCAR Sprint Cup Series events, seven will be carried on NBC annually, with 13 airing on NBC Sports Network. Four of NBC's 19 NASCAR Nationwide Series races will air on NBC, with 15 airing on NBC Sports Network.
"We are excited for the return of NBCUniversal and its family of networks to NASCAR," stated ISC Chief Executive Officer Lesa France Kennedy. "This groundbreaking agreement demonstrates the increasing value of our sport and builds upon the significant positive momentum seen recently in our industry. From the introduction of the Gen-6 car to the recently launched DAYTONA Rising project, we continue to build for the successful future of our sport by providing fans with the best live event experience at the racetrack and through various channels like television and online.
"Broadcast rights represent ISC's largest revenue segment and these recent deals provide us the long-term visibility to continue investing in our business to the benefit of our fans, partners and local communities while continuing to build shareholder value. We are poised to elevate ISC and the sport by having two of the world's largest media companies – NBC and FOX – promote NASCAR."
The NBC agreement follows the FOX Sports Media Group ("FOX") announcement for its NASCAR broadcast rights. In October 2012, FOX signed an eight-year extension of its broadcast rights (2015 – 2022), which industry sources valued at approximately $2.4 billion or an average annual rights fee of $300.0 million. FOX retains the television rights to 13 NASCAR Sprint Cup Series points races beginning each year with the prestigious DAYTONA 500®. In addition, FOX retains the rights to the NASCAR Sprint All-Star Race, The Sprint Unlimited, the Budweiser Duel At Daytona, the entire NASCAR Camping World Truck Series season and practice and qualifying for both the NASCAR Sprint Cup Series and the NASCAR Camping World Truck Series races that FOX broadcasts.
Of the 39 total NASCAR Sprint Cup events (points and non-points) there are only 3 Sprint Cup broadcast rights that remain to be negotiated. And, 14 of 33 NASCAR Nationwide series broadcast rights also remain to be negotiated. All NASCAR Camping World Truck series events broadcast rights have been secured through 2022.
International Speedway Corporation is a leading promoter of motorsports activities, currently promoting more than 100 racing events annually as well as numerous other motorsports-related activities. The Company owns and/or operates 13 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; Auto Club Speedway of Southern California(SM) near Los Angeles; Kansas Speedway® in Kansas City, Kansas; Phoenix International Raceway® in Arizona; Chicagoland Speedway® and Route 66 RacewaySM near Chicago, Illinois; Homestead-Miami Speedway(SM) in Florida; Martinsville Speedway® in Virginia; Darlington Raceway® in South Carolina; and Watkins Glen International® in New York.
The Company also owns and operates Motor Racing Network, the nation's largest independent sports radio network and Americrown Service Corporation(SM), a subsidiary that provides catering services, food and beverage concessions, and produces and markets motorsports-related merchandise. In addition, the Company has a 50 percent interest in the Hollywood Casino at Kansas Speedway. For more information, visit the Company's Web site at www.internationalspeedwaycorporation.com.
SOURCE International Speedway Corporation