Saturday, June 4, 2011

Will NASCAR land another big TV contract? Despite dip in ratings, executives, analysts optimistic

Welcome to NASCAR, Steve Herbst. Now get ready to negotiate.

This month, Herbst joined NASCAR as vice president of broadcasting, a role that puts him in line to spend the next 18 to 24 months working to secure the sport?s next TV contract. He?ll report to Paul Brooks, the president of NASCAR Media Group and lead executive in NASCAR?s negotiations.

NASCAR signed its current $4.5 billion contract with Fox, ESPN and Turner Sports in 2005. The eight-year agreement began in 2007 and ends in 2014. Based on the previous deal, NASCAR will likely have a deal in place no later than 2013.

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