Churchill, Magna in U.K. talks

Churchill Downs Inc., Magna Entertainment, and a media-rights company owned by 31 racecourses in Britain have entered into negotiations to develop a television channel that will broadcast races from North American racetracks into households in the United Kingdom, the companies announced Monday.

If final negotiations are successful, the channel, which would be equally owned by all three companies and available on a subscription basis, could be launched by the summer of 2006, the announcement said.