Jun 11,2021
Extension with International Skating Union runs until end of 2026/27 season and includes coverage in China from the 2020/21 season
Zug, Switzerland – The International Skating Union (ISU) has prolonged its media rights agreement with Infront for another four seasons, further strengthening Infront’s role as the commercial partner of all seven Olympic Winter Sports Federations.
The agreement runs from 2023/24 until the end of the 2026/27 season and includes media rights across all territories worldwide excluding Canada, Japan, Korea and USA. Infront will now also cover media rights in China, expanding the scope of the initial partnership which began in 2019.
The worldwide media rights partnership includes ISU events across all tiers and championships: the annual World, Four Continents and European Championships in Speed Skating, Short Track Speed Skating, Figure Skating, and the World Synchronized Skating Championships. It also covers all ISU World Cup Speed Skating, ISU World Cup Short Track and ISU Grand Prix of Figure Skating competitions.
Bruno Marty, Infront Senior Vice President Winter Sports said: ”This prolongation marks another important milestone as a long-term partner of the seven Olympic Winter Sports Federations. We look forward to working with the ISU for another four seasons, building on a successful foundation. We are happy to extend our collaboration and now include China as part of the agreement, leveraging our experience in this region and continuing to expand the sport to new markets.”
Jan Dijkema, ISU President said: “The ISU is pleased to extend this successful partnership. We continue to offer fans the opportunity to watch the ISU Events through either a rights-holding broadcaster or an ISU Livestream in many countries. The agreement with Infront underpins our aim to further grow the popularity and exposure of the ISU disciplines worldwide. In particular, we are committed to expanding digital content and engagement.”
About the ISU
The International Skating Union (ISU), founded in 1892, is the oldest governing international winter sport federation and the exclusive international sport federation recognized by the International Olympic Committee (IOC) administering the sports of Figure Skating (Single & Pair Skating and Ice Dance), Synchronized Skating, Speed Skating and Short Track Speed Skating worldwide. The objectives of the ISU are to regulate, govern, promote and develop its sports on the basis of friendship and mutual understanding between athletes. Currently three ISU disciplines are included in the Olympic Winter Games program (Figure Skating, Speed Skating and Short Track Speed Skating). For further information please visit isu.org.
BEIJING, March 17, 2020 (GLOBE NEWSWIRE) -- Wanda Sports Group Company Limited (NASDAQ: WSG) (the “Company”) today announced that the Company signed a $240 million senior term loan facility agreement with Credit Suisse AG, Singapore Branch, enabling the Company to refinance and prepay its existing senior 364-day term loan facility, dated March 15, 2019.
Mr. Hengming Yang, President and CEO of Wanda Sports Group said, “We are very pleased with the new credit facility. The successful refinancing demonstrates continued confidence in our business and operations, despite the global challenges and uncertainties resulting from COVID-19. We will continue to work diligently on behalf of our partners, athletes, fans and shareholders.”
Mr. Brian Liao, Global CFO of Wanda Sports Group said, “As always, we are committed to lowering our costs, monitoring our use of cash, and balancing our investments with disciplined management of our existing financial resources to optimize shareholder returns. The new facility provides the Company with additional financial flexibility, while allowing it to take advantage of the current favorable interest rate environment to lower interest costs.”
The term of the new facility is 364 days. The pricing will initially be LIBOR plus an applicable margin, and the term is subject to certain mandatory prepayment terms. These and the other principal terms of the new facility are outlined further in a Form 6-K (Report of Foreign Private Issuer) submitted today to the U.S. Securities and Exchange Commission.
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements can be identified by terminology such as “will,” “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “intend,” “potential,” “plan,” “goal” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. All forward-looking statements speak only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included in this press release. The Company disclaims any obligation to update or revise forward-looking statements that may be made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, other than as required by law.
