International Speedway Corporation Provides Beneficial Impact of NASCAR's Media Rights Agreements Beginning in 2015

Print
Font Size:
Default font size
Larger font size

Posted: Wednesday, August 27, 2014 7:30 am

[STK] NASDAQ-NMS:ISCA OTC-PINK:ISCB OTC-QB:ISCB

[IN] ENT SPT TVN AUT SSE

[SU] CON

-- WITH PHOTO -- TO BUSINESS, ENTERTAINMENT, AND SPORTS EDITORS:

International Speedway Corporation Provides Beneficial Impact of

NASCAR's Media Rights Agreements Beginning in 2015

DAYTONA BEACH, Fla., Aug. 27, 2014 /PRNewswire/ -- International

Speedway Corporation (NASDAQ Global Select Market: 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 beginning in 2015, as well as changes to

its NASCAR calendar of events for 2015.

In August 2013, NASCAR finalized multi-platform broadcast rights

agreements with NBCUniversal ("NBC") and Fox Sports Group ("FOX") for

10 years, beginning in 2015 through the 2024 season, for the broadcast

and related rights for NASCAR's three aforementioned national touring

series. The agreements include Spanish-language rights and 'TV

Everywhere rights', which will allow NASCAR content to stream over the

broadcasters-affiliated websites.

Based on information received during sanction agreement negotiations

with NASCAR, ISC's contracted TV broadcast revenues under these new

contracts beginning in 2015 will increase to approximately $316

million, or 3.8 percent.  ISC's contracted TV broadcast revenue for

2014, under the existing contracts expiring at the end of the 2014

race season, are expected to total $304 million.  Further, ISC's

rights revenues under the new contracts are expected to increase

between 3 percent and 5 percent over the 10-year contract term, at an

average of 3.9 percent.

The net broadcast revenue allocation to ISC reflects no change in the

historic participation between stakeholders in the sport's only shared

revenue model: 65 percent to promoters; 25 percent to race teams paid

through prize and point fund monies; and 10 percent retained by

NASCAR.

"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," stated ISC

Chief Executive Officer Lesa France Kennedy.  "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 following NASCAR schedule changes will impact the Company's

calendar of events for 2015:

-- The spring NASCAR Sprint Cup weekend events at Phoenix

International Raceway will be held two weeks later in March on the

2015 race calendar, moving from the second race weekend in 2014 to the

fourth race weekend in 2015;

-- The Chicagoland Speedway NASCAR Nationwide weekend events conducted

on the third weekend of July in 2014 will be held on the third weekend

of June in 2015;

-- The Coke Zero 400 Sprint Cup event at Daytona International

Speedway will be conducted on Sunday night of the Fourth of July

weekend for 2015;

-- The Darlington Raceway Sprint Cup weekend events will move from the

eighth race weekend in 2014 to the twenty-fifth weekend (Labor Day) in

2015; and

-- The fall Kansas Sprint Cup weekend will move from the thirtieth

race weekend in 2014 to the thirty-first race weekend in 2015.

"We are excited about NASCAR's 2015 schedule, particularly moves for

Phoenix and Darlington dates," stated ISC President John Saunders.

"While the Coke Zero 400 Powered by Coca-Cola will change to Sunday,

July 5, 2015, this will mark the kick-off event of NBC's return to

NASCAR as well as the debut of several new elements of DAYTONA Rising

at Daytona International Speedway - 50,000 new grandstand seats along

the frontstretch, vertical transportation, concessions, restrooms and

social areas."

Management will provide its perspective on the 2015 media rights

revenues and benefits of schedule changes on its third quarter

earnings conference call.

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 CaliforniaSM 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 SpeedwaySM 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

CorporationSM, 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.

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.

Logo - http://photos.prnewswire.com/prnh/20091005/FL87045LOGO

SOURCE International Speedway Corporation

-0- 08/27/2014

/CONTACT: Investor Relations, (386) 681-6516

/Photo: http://photos.prnewswire.com/prnh/20091005/FL87045LOGO

/Web Site: http://www.internationalspeedwaycorporation.com

(NASDAQ-NMS:ISCA /

OTC-PINK:ISCB /

OTC-QB:ISCB) /

CO: International Speedway Corporation

ST: Florida

IN: ENT SPT TVN AUT SSE

SU: CON

PRN

-- FL98328 --

0000 08/27/2014 11:30:00 EDT http://www.prnewswire.com

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Rules of Conduct

  • 1 Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
  • 2 Don't Threaten or Abuse. Threats of harming another person will not be tolerated. AND PLEASE TURN OFF CAPS LOCK.
  • 3 Be Truthful. Don't knowingly lie about anyone or anything.
  • 4 Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
  • 5 Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
  • 6 Share with Us. We'd love to hear eyewitness accounts, the history behind an article.

Welcome to the discussion.

Right Now

weather

Today

weather
83°
Details

Tomorrow

weather
84°
Details

Today

weather
84°
Details

Today

weather
85°
Details
Cool Today

SUBMIT PHOTOS & VIDEOS | VIEW ALL PHOTOS & VIDEOS

Send your photos & videos to Pix@MySuncoast.com and you could be featured on ABC 7 & our website.