BROADCASTER TVN will control the media rights for NSW and Victorian thoroughbred clubs in a landmark deal for Australian racing.
An agreement to aggregate the media rights of all thoroughbred clubs in Australia's two strongest racing states was signed on Monday. Under the agreement, TVN will hold the rights to broadcast thoroughbred racing in NSW and Victoria until 2028.
Racing NSW chairman John Messara said the agreement would allow racing to showcase itself in the best way possible.
"The new structure will ensure that TVN showcases our racing product in an optimal fashion under new advertising and editorial policies. While we have taken considerable time to finalise these important arrangements, the racing industry can be assured that we are united in our quest to fully exploit racing's valuable media assets in the best interests of our wonderful industry.''
A new TVN board will be put in place in the new year with a new chairman and chief executive.
Messara indicated that TVN would operate under different circumstances with stricter policies on content.
''A new board and management structure will be established for the restructured TVN, with both Racing NSW and Racing Victoria having representation on the board,'' outgoing chairman of TVN Harold Mitchell said. ''The current board will step down at an appropriate time in the New Year, when a new board will be formed.''
Mitchell said the aggregation of the media rights would provide stability for racing's future.