(Original title: ST Mingcheng (600136.SH): La Liga requires early termination of the contract, La Liga accounts for about 30% of the company’s copyright business revenue)
Zhitong Finance APP News, ST Mingcheng (600136.SH) announced that the company has received a notice from the Spanish Professional Football League (“La Liga”), which requires the early termination of the “Audio-Video Rights License Agreement” (“License Agreement”) signed with the company. and the Letter of Intent to Amend the Audiovisual Rights License Agreement (“Letter of Intent”). At present, La Liga accounts for about 30% of the company’s copyright business revenue. If the company eventually terminates the “Audio-Video Rights License Agreement” with La Liga, it will lead to the loss of La Liga’s all-media copyright in the company’s sports copyright business, and the company’s related business income and Costs will also be reduced accordingly.
According to the notice, the company may also be liable for 105 million euros of liquidated damages and 45 million euros of overdue payment obligations. Since the 105 million euros of liquidated damages are only unilaterally proposed by La Liga, the final impact on the company’s financial indicators is currently unknown. Calculate.
According to the company’s understanding, after fully judging the industry development trend of sports event copyright business in recent years, Xinying Cayman has already discussed with LaLiga League (LaLiga Santander’s) copyright business in the early stage (including but not limited to price, time limit) etc.) have been renegotiated. As of the date of this announcement, both parties have not reached a consensus on relevant matters.