Goldman Sachs has been buying. ;)Two Way, Tabcorp to set up...

Goldman Sachs has been buying. ;)

Two Way, Tabcorp to set up wagering service on FOXTEL
17:02, Friday, 8 June 2007

Sydney - Friday - June 8: (RWE Australian Business News) - Two
Way Ltd (ASX code: TTV) had signed an agreement with Tabcorp Holdings
Ltd (ASX code: TAH) and FOXTEL to develop a pay TV wagering service on
the FOXTEL platform.
The service will initially be offered in NSW and Victoria,
subject to regulatory approvals in each state.
Once the service is introduced, Tabcorp account holders with
FOXTEL will be able to place bets via the Sky Racing Channel.
Wagering on the service will be password-protected and will not
be accessible without an active Tabcorp wagering account.
Under the five-year agreement, Two Way will pay FOXTEL $5.6
million in two tranches, with the first 50 per cent to be paid on
completion of today's agreement and the remainder payable upon
commercial launch of the service.
Following launch of the service, Tabcorp will pay a service fee
derived from wagering turnover through the service.
Two Way will retain 100% of this fee until it reaches a total of
$5.6 million, after which Two Way and FOXTEL will split the fee equally.