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Copyright 2005 News from the POKER GAZETTE
October 1, 2005
HEADLINE:
WPT: Network Withdraws "Pro Poker" Offer
BODY:
WPT Enterprises Inc. on Thursday said a cable network withdrew
its offer to buy broadcast rights to the "Professional Poker
Tour" series, but WPT said it has resumed negotiations with
the Travel Channel.
The Travel Channel currently broadcasts WPT's "World Poker
Tour" TV series.
On Sept. 19, WPT sued the Travel Channel and its parent company,
Discovery Communications Inc., to prevent the broadcaster from
interfering with WPT's prospective contract with the other, unnamed
company. WPT is currently negotiating with the Travel Channel
to broadcast the "Professional Poker" series "despite
the dispute."
Shares of WPT fell 64 cents, or 7.1 percent, to $8.34 in morning
trading on the Nasdaq. The stock reached a 52-week peak of $29.50
in July, but is now nearing its year-ago low of $7.65.
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