Tabcorp not selling Sky Channel

Louise Duffy | 18-03-2011

Australian gambling and entertainment group Tabcorp Holdings has rejected reports that it was contemplating a sale of its TV racing network, Sky Channel.

Tabcorp said it had received a proposal from TVN to acquire Sky Channel, but it wasn’t considering a sale. "Tabcorp has never contemplated and is not contemplating the sale of Sky Channel and has informed TVN to that effect," it said in a statement

TVN CEO Peter Sweeney said Tabcorp's dismissal of its offer – believed to be in the region of A$400m - would not deter it from pursuing "its strategies". He declined to comment on whether TVN would increase its offer.

Sweeney said TVN believed that by owning Sky "there's a lot more positive outcome in wagering for racing".