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News For CSTR;ISCA From The Last 14 Days
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August 27, 2014
07:38 EDTISCAInternational Speedway provides impact of NASCAR's media rights agreements
International Speedway Corporation 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. 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 $316M, or 3.8%. 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 $304M. Further, ISC's rights revenues under the new contracts are expected to increase between 3%-5% over the 10-year contract term, at an average of 3.9%. Management will provide its perspective on the 2015 media rights revenues and benefits of schedule changes on its third quarter earnings conference call.

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