Prairie Meadows is suing track announcer Ken Miller over the patent rights to a "Pick 5" wager Miller conceived and the track plans to offer. The tug-of-war has created such a strain that the Iowa racetrack and casino has suspended Miller, who has called races there since 1989.
Gemstar-TV Guide International, the parent company of the TV Games Network, lost 39% of its value Monday in a frenzy of selling. Investors reacted to a ruling June 21 that Gemstar's patents for an interactive television program guide have not been infringed by competing products.
Gemstar-TVG Guide International, the parent company to the TV Games Network racing channel, suffered a serious blow in court Friday when it lost a crucial patent infringement case.
Gemstar-TV Guide stock plunged Friday after a report released two days ago said the company may have engaged in "patent misuse" and that its on-going patent infringement lawsuit may be groundless.
Gemstar-TV Guide International's stock is tumbling this week because of doubts that the company can protect its interactive programming guide patents in a key court case, according to analysts. Gemstar is the parent company to the TV Games Network, a horse racing network and interactive wagering service.
Most Popular Stories
- Positive Outlook for Fasig-Tipton Yearlings
- Fasig-Tipton Kentucky: July 2014 Sale Preview
- Sentient Jet Returns as Breeders' Cup Sponsor
- The Thoroughbred Racehorse Foot
- First Starter Wins for Indiana Sire Dr Large
- Ortiz, Castellano Finish in Tie at Belmont
- New Journeyman Cabrera Wins Lone Star Title
- Story to Tell, La Grange Win Juvenile Stakes
- Wildcat Red Posts Bullet Breeze for Haskell
- A Conversation With Michael Straight