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Magna to launch horse-racing net

Major racetrack operator Magna Entertainment Corp. is launching a racing
network to challenge Gemstar-TV Guide International Inc.'s own start-up.

HorseRacing TV is slated to offer up to 15 hours per day of live races, odds
and results from thoroughbred, harness and quarter-horse-racing racetracks in
the United States and Canada.

Magna's 13 racetracks include Santa Anita Park, Golden Gate Fields and Bay
Meadows Racecourse in California; Gulfstream Park in Florida; and Pimlico Race
Course and Laurel Park in Maryland.

It has cut deal for coverage from 50 additional tracks.

The network is offering to pay operators a small monthly fee per subscriber
in the 34 states where they are permitted to bet through Magna's telephone
wagering system.

So far, HorseRacing TV has cut carriage deals on Time
Warner Cable's digital tier and for 900,000 analog homes in Pennsylvania, where
it is succeeding Meadows Racing Network.