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Firm gets Iowa sports rights to 2026
Legal Career News |
2011/09/02 18:02
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The University of Iowa athletics department has quietly given the company managing its sports marketing efforts a contract extension through 2026 and the right to sell the name of its basketball court in exchange for guaranteed payments totaling $114 million, contract documents show.
Missouri-based Learfield Communications Inc. beat out several other firms in a competitive bidding process in 2006 for a 10-year contract to exclusively broadcast Iowa athletic events on the radio, negotiate corporate sponsorship agreements and generate other advertising and marketing income. Iowa was guaranteed $55.1 million under that deal.
But in a move that escaped public scrutiny, Iowa agreed in November 2009 to extend the contract by 10 years while giving Learfield the ability to sell the naming rights to the court of Carver-Hawkeye Arena and the Outdoor Club at Kinnick Stadium, according to records released to The Associated Press. Mediacom, the cable television and Internet provider, earlier this year secured the naming rights to both spaces for terms that have not been released.
Long-term agreements and contract extensions are common in college sports marketing, but the length of Iowa’s deal seems unusual even by those standards. Indiana, for instance, and Learfield announced this year they reached a 10-year extension through 2021. Wisconsin won approval in 2007 from its governing board for a deal with Learfield through 2019.
Sports marketing has also come under fresh scrutiny in Iowa.
Iowa and Iowa State were heavily criticized over the new Cy-Hawk football rivalry trophy that depicted a farm family gathered around a basket of corn. It was designed under a sponsorship agreement with the Iowa Corn Growers Association, and then scrapped after a backlash from fans.
Iowa last week renewed a partnership with the Iowa Lottery for a football-themed promotion involving a $2 scratch ticket despite criticism from some faculty members and NCAA guidelines discouraging gambling ads. And the Iowa Farm Bureau last month reached a wide-ranging, five-year marketing and licensing agreement with Iowa to promote the “America Needs Farmers” brand at a time when its president also leads Iowa’s governing board.
Iowa has refused to release the terms of those agreements as well as the naming rights deal with Mediacom, arguing they are not subject to public records law because they are between sponsors and Learfield even though the school sets the guidelines for sponsorships. |
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Court signs off on Comcast takeover of NBCU
Business Law Info |
2011/09/02 12:58
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A federal court has approved the government's conditions placed on Comcast's takeover of NBCUniversal. In an order Thursday, U.S. District Judge Richard Leon in Washington, D.C., tacked on a two-year oversight period that aims to protect competitors who want to distribute NBCUniversal video content online. He ordered the government and Comcast to report annually on online video competitors who attempt to arbitrate disputes either through the Federal Communications Commission or an arbitration process set up as part of the takeover. Comcast took 51 percent control of NBCUniversal in January after paying General Electric Co. $6.2 billion and contributing channels worth $7.25 billion to the new entity. Among other conditions, the Justice Department and the FCC forced Comcast to relinquish decision-making power related to its minority stake in online video service Hulu. |
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Court won't allow plea withdrawal in porn case
Court Feed News |
2011/09/02 08:01
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A federal appeals court says there are several reasons John Joseph Maillet can't withdraw his guilty plea on a child pornography charge for enticing a teenager to pose with venomous snakes. For one, Maillet didn't say he was innocent.
Maillet pleaded guilty in September in U.S. District Court in south Mississippi. The next month he asked to withdraw the plea and fire his lawyer, saying he didn't know there was a mandatory sentence.
U.S. District Judge Sul Ozerden refused and sentenced Maillet to 30 years. Maillet then asked the 5th U.S. Circuit Court of Appeals in New Orleans to allow him to withdraw the plea.
The appeals court ruled Thursday, saying, among other things, that "Maillet has not asserted that he is actually innocent of the charge." |
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SD Supreme Court upholds school funding system
Legal Career News |
2011/09/01 16:25
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The South Dakota Supreme Court on Thursday upheld the constitutionality of the state's system for funding school districts, rejecting the schools' arguments that the current arrangement does not provide enough money to assure students of an adequate education.
In a unanimous ruling, the high court said a lawsuit supported by about two-thirds of the state's school districts raises serious questions about the funding system and shows that some districts struggle to provide adequate facilities and qualified teachers.
"Even so, reasonable doubt exists that the statutory funding mechanisms or level of funding are unconstitutional," Justice Judith Meierhenry wrote for the court.
The 41-page main decision upholds a ruling by Circuit Judge Lori Wilbur of Pierre, who ruled in 2009 that the school funding system is constitutional because it provides students with an adequate education that prepares them for life after high school. Wilbur has since been appointed to the Supreme Court, but did not take part in Thursday's ruling. |
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Appeals Court upholds sanctions against doctor
Court Feed News |
2011/09/01 14:20
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An appeals court has upheld sanctions against a former University of Wisconsin Hospital doctor who was accused of fondling female patients.
The 4th District Court of Appeals said in its decision Thursday that the state Medical Examining Board properly sanctioned Dr. Frank Salvi in 2009. He was suspended for 90 days and required to undergo a mental evaluation and five years of supervision.
Salvi denied charges made by four female patients that accused him of fondling them in 2004 and 2005.
A Dane County judge ruled last year that the state medical board improperly sanctioned Salvi, but the board appealed. The Appeals Court reversed that decision, saying the board properly disciplined Salvi.
Salvi's attorney Lester Pines had not seen the decision and had no immediate comment. |
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Shareholder class action hits Leighton
Class Action News |
2011/09/01 11:34
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Shareholders set to take legal action against Leighton over alleged failures to properly report a $907 million turnaround in financial performance.
Law firm Maurice Blackburn on Thursday said it intended to launch a class action against the company, alleging Leighton breached continuous disclosure obligations as set out in the Corporations Act.
On April 11 this year, the Leighton announced it was expecting to post a loss of $427 million for the 2010/11 financial year, a turnaround from a $480 million profit in 2009/10.
The announcement came after a review of its operations, which led to a $282 million drop in profit from its desalination plant project at Wonthaggi in Victoria, a before-tax loss of $430 million on the Brisbane Airport Link and a $295 million write-down on its equity in the Middle East-focused Habtoor Leighton Group.
Maurice Blackburn principal Andrew Watson said Leighton should have told the market about those write-downs by November 2, 2010, or, at the very latest, February 14 this year.
'Shareholders expect a company like Leighton to have proper risk management and internal reporting systems to ensure timely announcements are made when there are difficulties,' Mr Watson said.
Maurice Blackburn says it believes Leighton was seeking approval for design changes on the Brisbane Airport Link because of expected delays as early as April 2009.
Leighton also advised the market that construction of the Victorian desalination plant was on time at least five times between November 2010 and March 2011, Maurice Blackburn alleges.
In response to a query from the Australian Securities Exchange (ASX) several days after its announcement of the losses, Leighton said it informed the market of its expected losses as soon as it was aware of them.
'At all times, the company has been mindful of its continuous disclosure obligations,' Leighton secretary Ashley Moir said on April 18.
Last week, the Leightonboard terminated the contract of chief executive David Stewart, who took over from long-time chief executive Wal King in January.
That followed chairman David Mortimer's decision to depart the Leighton board a day earlier. |
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