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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) January 13, 2000
INTERNATIONAL SPEEDWAY CORPORATION
(Exact name of registrant as specified in its charter)
FLORIDA O-2384 59-0709342
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1801 WEST INTERNATIONAL SPEEDWAY BOULEVARD, DAYTONA BEACH,
FLORIDA 32114
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (904) 254-2700
No Change
(Former name or address, if changed since last report)
Item 5. Other Events.
On January 13, 2000 the Company issued a press release which provided
additional detail on the impact of NASCAR television agreements in the year
2001. The release announced that according to NASCAR Broadcasting, Ltd., the
total current estimate for net television revenue in the year 2001 is
approximately $244 million with increases, on average, of approximately 17%
per year through the 2006 season. The annual increase is expected to vary
between 15% and 21% per year. The 2001 estimate is based on the entire 2000
NASCAR Winston Cup and Busch Series schedules and anticipates that
approximately 95% of the total television proceeds will be allocated to
Winston Cup events and approximately 5% to Busch Series events in the 2001
season. A copy of the press release is attached as an exhibit to this report.
On January 14, 2000 the Company announced it had reached an agreement
with the New Jersey Sports and Exposition Authority to conduct a feasibility
study to potentially develop a motorsports facility at the Meadowlands Sports
Complex in East Rutherford, N.J. A copy of the press release is attached as
an exhibit to this report.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit
Number Description of Exhibit Filing Status
1. (99.1) Press Release providing additional filed herewith
detail on NASCAR television contracts
2. (99.2) Press Release announcing feasibility filed herewith
study for Meadowlands
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.
INTERNATIONAL SPEEDWAY CORPORATION
(Registrant)
Date: 1/14/2000 /s/ James C. France
_____________ __________________________________
James C. France, President
FOR IMMEDIATE RELEASE
ISC Provides Additional Detail On Favorable Impact of NASCAR Television
Agreements
DAYTONA BEACH, Fla.--(BUSINESS WIRE)--January 13, 2000-- International
Speedway Corporation ("ISC") (Nasdaq/NM: ISCA - news; OTC Bulletin
Board: ISCB - news) today provided additional detail on the favorable impact
of NASCAR's announced agreements with the domestic television broadcasters of
NASCAR Winston Cup Series and Busch Series, Grand National Division events. In
a press release dated November 11, 1999, NASCAR stated that it had
reached an agreement on a six-year television contract with NBC Sports and
Turner Sports, with the two media companies combining to develop a joint
venture. In addition, NASCAR reached an agreement on an eight-year television
contract with FOX and its FX cable network. Both agreements are effective
beginning with the 2001 racing season.
According to NASCAR Broadcasting, Ltd., the total current estimate for net
television revenue in the year 2001 is approximately $244 million with
increases, on average, of approximately 17% per year through the 2006 season.
The annual increase is expected to vary between 15% and 21% per year. The 2001
estimate is based on the entire 2000 NASCAR Winston Cup and Busch Series
schedules and anticipates that approximately 95% of the total television
proceeds will be allocated to Winston Cup events and approximately 5% to Busch
Series events in the 2001 season.
John Saunders, Senior Vice President - Operations for ISC, commented, "Based
on NASCAR's guidance and on our expected allocation of the proceeds from
these agreements with respect to our current portfolio of events, we expect to
realize significant enhancements to our financial performance beginning in
2001. We also look forward to announcements in the coming year from NASCAR
Broadcasting as it reaches agreements on ancillary broadcast, interactive and
marketing rights including international broadcast and Internet opportunities.
These agreements are also expected to contribute to our financial results
beginning in 2001."
International Speedway Corporation is a leading promoter of motorsports
activities in the United States, currently promoting more than 100 events
annually. The Company owns and/or operates 11 major motorsports facilities,
including Daytona International Speedway in Florida (home of the Daytona 500);
Talladega Superspeedway in Alabama; Michigan Speedway located outside Detroit,
Michigan; California Speedway near Los Angeles, California; Homestead-Miami
Speedway in Florida; Phoenix International Raceway in Arizona; Richmond
International Raceway in Virginia; Darlington Raceway in South Carolina; North
Carolina Speedway in Rockingham, North Carolina; Watkins Glen International in
New York, and Nazareth Speedway in Pennsylvania. In addition, the Company is
developing a superspeedway in Kansas City, Kansas. Other track interests
include the operation of Tucson (Arizona) Raceway Park and an indirect 37.5%
interest in Raceway Associates, LLC, which owns the Route 66 Raceway and is
developing a superspeedway in the Chicago area. The Company also owns and
operates MRN Radio, the nation's largest independent sports radio network;
DAYTONA USA, the ``Ultimate Motorsports Attraction'' in Daytona Beach,
Florida, the official attraction of NASCAR; Americrown Service Corporation, a
provider of catering services, food and beverage concessions, and merchandise
sales, and Motorsports International, a producer and marketer of
motorsports-related merchandise. For more information, visit the Company's Web
site at www.iscmotorsports.com.
Statements made in this release that state the Company's or management's
beliefs or expectations and which are not historical facts or which apply
prospectively are forward-looking statements. It is important to note that the
Company's actual results could differ materially from those contained or
implied by such forward looking statements. Additional information concerning
factors that could cause actual results to differ materially from those in the
forward looking statements is contained from time to time in the Company's SEC
filings including but not limited to the 10-K and subsequent10-Q's. Copies of
those filings are available from the Company and the SEC.
Contact:
International Speedway Corporation, Daytona Beach
Wes Harris
Director of Investor Relations
(904) 947-6465
or
Morgen-Walke Associates, Inc., New York
Betsy Brod/Jonathan Schaffer
Media: Jennifer Kirksey
(212) 850-5600
# # #
[LOGO] ISC News Release
www.iscmotorsports.com
_____________________________________________________________________________
ISC Announces Feasibility Study of Meadowlands Sports Complex as Site for
Motorsports Facility
DAYTONA BEACH, Fla. (Jan. 14, 2000) -- International Speedway
Corporation (ISC), a motorsports entertainment company, through its wholly-
owned subsidiary New York International Speedway Corporation (NYISC),
announced today that it has reached an agreement with the New Jersey Sports
and Exposition Authority to conduct a feasibility study to potentially develop
a motorsports facility at the Meadowlands Sports Complex in East Rutherford,
N.J.
"In 1999, we announced our desire to explore a site for a major
motorsports facility in the New York metro area, " stated Jim France,
President, ISC. "As part of the development process, we are undertaking an
in-depth study to determine the feasability and scope of this project at the
Meadowlands. This is the next step in an extensive process to hopefully bring
major motorsports entertainment to the metro area."
Based in Daytona Beach, Fla., ISC currently promotes more than 100
events annually.
ISC owns and/or operates 11 major motorsports facilities, including
Daytona International Speedway in Florida (home of the Daytona 500); Talladega
Superspeedway in Alabama; Michigan Speedway located outside Detroit, Michigan;
California Speedway near Los Angeles, California; Homestead-Miami Speedway in
Florida; Phoenix International Raceway in Arizona; Richmond International
Raceway in Virginia; Darlington Raceway in South Carolina; North Carolina
Speedway in Rockingham, North Carolina; Watkins Glen International in New
York, and Nazareth Speedway in Pennsylvania. Other track interests include
the operation of Tucson (Arizona) Raceway Park..
The Meadowlands Sports Complex located five miles west of the Lincoln
Tunnel is the site of Giants Stadium, Continental Airlines Arena and
Meadowlands Racetrack. It is home to six professional sports franchises
(Giants, Jets, Devils, Nets, Metrostars, Red Dogs) horse racing, college
athletics, concerts and family shows.
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Media Contacts: ISC NJSEA
David Talley John Samerjan
904-947-6693 201-842-5010
