Statement regarding 'The Informant'

FOR IMMEDIATE RELEASE
8 October 2010
Statement regarding The Informant

The NZ Racing Board regrets today’s announcement by the owners of The Informant that they may close the publication. The NZ Racing Board has always believed that The Informant and Turf Digest/Best Bets are complementary publications, catering to different readers with different needs.

Last month the NZ Racing Board’s advertising contract with The Informant fell due for review and renegotiation. Over the past three years the NZ Racing Board has spent more than $900,000 on advertising with The Informant, as well as providing them with free advertising on Trackside and supplying print-ready form for them to publish.

The NZ Racing Board has a responsibility to ensure it spends judiciously, in the best interests of the racing industry, and it no longer believes this level of investment in The Informant is the best use of its resources. Rather the racing industry will be better served by the NZ Racing Board investing in channels for supplying form to bettors that are more widely used, and by having more money available to distribute to the Codes.

The NZ Racing Board has however continued to carry advertising for The Informant on Trackside free-of-charge and offered The Informant print-ready form free-ofcharge while they determine their future direction. The parties are yet to agree the price of print-ready form in the long-term, or any reciprocal advertising arrangement through our TV channels. The NZ Racing Board remains hopeful that an amicable settlement can be achieved.

The NZ Racing Board’s decision to purchase Turf Digest/Best Bets was purely in response to customer research undertaken in early 2010. This research clearly showed that a significant number of bettors want a twice-weekly form publication in the Turf Digest/Best Bets format. Had the NZ Racing Board not purchased the publication there was a real doubt that the twice-weekly frequency would have been compromised at the expense of betting revenue and, in turn, funding for the racing industry.

The NZ Racing Board would prefer that The Informant continue to publish, however The Informant’s owners must make the best decision for their business.

ENDS

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