Churchill, Magna to Provide Races to UK

Churchill Downs Inc., Magna Entertainment Corp., and Racing UK announced April 7 that the three organizations have reached agreement to partner in a subscription television channel that will broadcast races from CDI and MEC racetracks, as well as other North American and international racetracks, into the United Kingdom and Ireland.

The new television channel, Racing World, launched March 8 and offers live racing from Golden Gate Fields, Gulfstream Park, Laurel Park, Oaklawn Park, Santa Anita Park, and Turfway Park. During the spring and summer, Racing World will expand its offerings when live racing resumes at Arlington Park, Bay Meadows Race Course, Calder Race Course, Churchill Downs, Hollywood Park, Keeneland Race Course, Lone Star Park, and Pimlico Race Course.

MEC and CDI will provide racing content to Racing World while Racing UK will manage day-to-day operations for the channel. Racing UK is a media company and subscription television channel owned by 31 leading British racecourses.

As part of the agreement, CDI, MEC, and Racing UK will take ownership positions in Racing World with MEC and CDI contributing their respective in-home video and wagering rights in the United Kingdom and Ireland. Neither CDI nor MEC expect revenues generated by Racing World to have a material impact on their companies' respective earnings or cash flow in 2006.

Racing World is available to subscribers in the United Kingdom and Ireland on Sky Channel 433 and airs six nights a week.