FW: Speedvision to become NASCAR channel...

["Victor Farren" <vfarren@dis.cdie.org>]

Holy shit, say it ain't so!  Got this from a buddy of mine.  If this is true, this REALLY bites.

Victor



From: Son Nguyen <snguyen@hydra.acs.uci.edu>
Date: Thu, 28 Jun 2001 15:05:55 -0700
To: a2_16v@connecticom.com 
Subject: Speedvision to become NASCAR channel...

The plan is to convert Speedvision, an existing cable network reaching
41 million households, to the NASCAR Channel. By comparison, The Golf
Channel, launched in 1995, reaches 37 million homes.
A name hasn't been selected, but it is expected to include NASCAR.
NASCAR has already licensed its name to Fox for a motorsports cable
channel.
Fox parent News Corp. owns a third of Speedvision and is negotiating
for an
80% stake with other shareholders.
David Hill, Fox Sports chairman, says the deal should be finished by
August.
"We haven't finished the acquisition yet," Hill says. "I don't think
the ink's dry on the paper until August so we can't do anything yet.
We're doing a heck of a lot of planning."
Industry experts say the revamped Speedvision will emphasize NASCAR
while incorporating other forms of racing and automotive collectors'
shows.
Speedvision generates $75 million per year in revenue, with annual
advertising gains of 40% to 50% the past five years. It became
profitable last year.




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