This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Churchill Downs Incorporated And MI Developments Inc. Announce Dissolution Of TrackNet Media Venture

Churchill Downs Incorporated (NASDAQ: CHDN) (“CDI”) and MI Developments Inc. (TSX: MIM.A, MIM.B; NYSE: MIM) (“MID”) today announced that the joint venture TrackNet Media Group (“TrackNet Media”), originally formed between CDI and Magna Entertainment Corp. (“MEC”), will be dissolved. CDI and MID’s wholly owned subsidiary MI Developments Investments Inc. will remain partners in HorseRacing TV™ (HRTV). MI Developments Investments Inc. is the successor in interest to MEC’s ownership interests in TrackNet Media and HRTV pursuant to the final resolution of MEC’s federal bankruptcy proceedings.

When TrackNet Media was formed in March 2007, MEC and CDI established four primary objectives for the entity:

1. Foster an open and competitive business environment where horse racing content is readily available to customers through a wide variety of distribution points and wagering platforms;

2. Create an innovation-based environment of sustainable growth for the North American horse racing industry domestically and internationally;

3. Enhance wagering integrity and security to address horse racing signal piracy and ensure content creators are compensated; and

4. Benefit the horsemen and racetracks that together create racing content through new industry growth.

For a copy of the press release announcing TrackNet Media’s formation, see

CDI Chief Executive Officer Bob Evans noted, “Three years after we formed TrackNet Media, we believe we have largely achieved our goals, including an ‘open content’ environment where ADW operators now compete for customers based on features and value instead of exclusive access to content. This has led to new online options for wagering, blogs, wagering tools, sign-up offers, streaming video and an explosion in online contests for customers – and has helped produce meaningful growth in the ADW segment even while overall wagering has declined with respect to North American Thoroughbred racing. Furthermore, TrackNet Media developed integrity and security processes and standards, monitored compliance with these standards, and required many of the significant purchasers of TrackNet Media content to complete rigorous compliance reviews led by the independent Thoroughbred Racing and Protection Bureau. We intend to continue these compliance efforts going forward in coordination with the TRPB. We are proud of the TrackNet Media team’s record and feel it has accomplished all that can be expected of it.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
CHDN $131.47 0.00%
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs