2nd Nov 2009 14:00
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 JejuIsland, Korea, was first held in 2008 and is now the largest golf tournament inKorea. The Ballantine's Championship generates the majority of PMG's first halfrevenues and last year saw a significant growth in secondary sponsorship forthe 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 theBallantine's Championship for a further three years. This underpins the successof the tournament to date and PMG's position as the premier promoter tointernational sports and lifestyle events in Korea.The fact that the Ballantine's Championship has now been extended to 2013 isfurther tangible evidence of the considerable value of the asset that PMG hasbuilt over the last 3 years. It is also another example of the long termcontracts being generated by PMG to create highly visible future revenues asthe 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
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