2 November 2009
Parallel Media Group Plc
("PMG" or the "Group")
Ballantine's Sponsorship extended to 2013
PMG is pleased to announce that Ballantine's, the title sponsor for the largest
golf tournament in South Korea, has agreed to extend its sponsorship of the
event for a further three years to 2013.
The Ballantine's Championship, a PGA European Tour event held in April in Jeju
Island, Korea, was first held in 2008 and is now the largest golf tournament in
Korea. The Ballantine's Championship generates the majority of PMG's first half
revenues and last year saw a significant growth in secondary sponsorship for
the event.
Commenting on the extended sponsorship, David Ciclitira, the Group's Executive
Chairman, said:
"We are delighted to have secured Ballantine's support for the extension of the
Ballantine's Championship for a further three years. This underpins the success
of the tournament to date and PMG's position as the premier promoter to
international sports and lifestyle events in Korea.
The fact that the Ballantine's Championship has now been extended to 2013 is
further tangible evidence of the considerable value of the asset that PMG has
built over the last 3 years. It is also another example of the long term
contracts being generated by PMG to create highly visible future revenues as
the foundation for our growing success."
For more information please contact:
Martin Doherty +44 (0) 20 7225 2000
Finance Director, Parallel Media Group Plc
Stuart Lane / Antony Legge +44 (0) 20 7448 4400
Astaire Securities Plc
www.parallelmediagroup.com
END
