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Pin to quick picksCatalyst Media Regulatory News (CMX)

Share Price Information for Catalyst Media (CMX)

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Trading Update

23 May 2017 12:00

RNS Number : 9796F
Catalyst Media Group PLC
23 May 2017
 

23 May 2017

 

Catalyst Media Group plc

("CMG" or the "Company")

 

Trading Update

 

Further to CMG's announcement of its interim results for the six months ended 31 December 2016, announced on 31 March 2017 ("Interim Results"), CMG provides the following update in respect of Sports Information Services (Holdings) Limited ("SIS") in which it has an approximate 20.54% interest.

 

In the Interim Results, CMG set out that SIS had agreed to acquire two greyhound tracks. CMG has been notified that SIS has not been successful in acquiring the greyhound tracks as previously planned and that Arena Racing Company has acquired them, which will likely impact and reduce SIS's greyhound content and, as a result, operating results going forward.

 

As set out in the Interim Results, as a result of the transition by SIS to lower risk and lower profitability business arising from the changes in the media rights, particularly in respect of SIS's horse racing rights, SIS's underlying operating results for its financial year ending 31 March 2018 were expected to decline by approximately 50%. Following the potential reduction in greyhound content from the end of 2017, when certain greyhound media rights expire, initial indications from SIS are that its underlying operating results are now expected to decline by approximately 60%, rather than 50% as previously announced, for the financial year ending 31 March 2018, prior to any mitigating actions which may be implemented by SIS.

 

The likely reduction in greyhound content will also impact SIS's profitability in future years, the level of which is yet to be determined and which will be dependent upon any mitigating actions SIS may take as a result of the factors outlined above.

 

Enquiries:

 

Catalyst Media Group Plc

Michael Rosenberg, Non-executive Chairman: 07785 727 595

Melvin Lawson, Non-executive Director: 020 7734 8111

 

Strand Hanson Limited: 020 7409 3494

James Harris

Richard Tulloch

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTLLFEIEIIVFID
Date   Source Headline
26th Mar 20247:00 amRNSInterim Results
16th Jan 202411:30 amRNSResult of AGM
20th Dec 202312:45 pmRNSFinal Results for 30 June 2023 and Notice of AGM
8th Nov 20233:30 pmRNSHolding(s) in Company
31st Oct 20233:00 pmRNSDividend Declaration
7th Jul 20237:00 amRNSUpdate re SIS
30th Mar 20237:00 amRNSInterim Results
1st Feb 202312:58 pmRNSResult of AGM
18th Jan 202310:00 amRNSRevised Dividend Payment Date
9th Jan 202310:45 amRNSDividend Declaration
30th Dec 20227:00 amRNSFinal Results and Notice of AGM
30th Nov 20229:23 amRNSHolding(s) in Company
29th Nov 20227:00 amRNSHolding(s) in Company
21st Nov 20227:00 amRNSUpdate Regarding SIS
25th Aug 20223:18 pmRNSHolding(s) in Company
6th Jul 20225:07 pmRNSHolding(s) in Company
6th Jul 20225:06 pmRNSHolding(s) in Company
30th Jun 20227:00 amRNSResolution of SIS’s litigation with TRP
23rd Jun 20222:30 pmRNSHolding(s) in Company
30th Mar 20227:00 amRNSInterim Results
27th Jan 20221:00 pmRNSResult of AGM
30th Dec 20213:51 pmRNSFinal Results for the year ended 30 June 2021
25th Jun 20215:58 pmRNSSIS Rights Agreement with RMG
30th Mar 20217:00 amRNSInterim Results
10th Feb 202110:21 amRNSResult of AGM
31st Dec 20207:00 amRNSFinal Results for the year ended 30 June 2020
19th Nov 20207:00 amRNSUpdate regarding SIS
9th Oct 20203:00 pmRNSUpdate regarding SIS litigation
29th Jun 20207:53 amRNSSIS acquisition of 49's Ltd
17th Jun 202012:59 pmRNSUpdate regarding SIS
26th Mar 20207:00 amRNSInterim Results
20th Jan 202011:58 amRNSResult of AGM
8th Jan 20203:06 pmRNSUpdate regarding SIS litigation
8th Jan 20201:05 pmRNSHolding(s) in Company
20th Dec 20197:00 amRNSFinal Results
31st Oct 20195:33 pmRNSReceipt of SIS dividend & payment of CMG dividend
28th Oct 20197:00 amRNSSIS Update and Dividend
10th Jul 201910:46 amRNSUpdate regarding SIS litigation
8th May 201911:45 amRNSUpdate regarding SIS litigation
12th Apr 201912:44 pmRNSHolding(s) in Company
27th Mar 20197:00 amRNSHalf-year Report
16th Jan 20194:20 pmRNSResults of AGM
12th Dec 20187:00 amRNSFinal Results
6th Dec 20186:01 pmRNSHolding(s) in Company
26th Oct 20189:54 amRNSReceipt of SIS Dividend & Payment of CMG Dividend
9th Oct 20182:32 pmRNSUpdate re SIS and SIS Live and Proposed dividend
23rd May 20187:00 amRNSUpdate regarding SIS
27th Mar 20183:15 pmRNSInterim Results
31st Jan 20187:00 amRNSUpdate regarding SIS
12th Jan 201811:30 amRNSResult of AGM

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