Ballantine’s sponsorship extended to 2013

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 Jeju Island, Korea, was first held in 2008 and is now the largest golf tournament in Korea. The Ballantine's Championship generates the majority of PMG's first half revenues and last year saw a significant growth in secondary sponsorship for the 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 the Ballantine's Championship for a further three years. This underpins the success of the tournament to date and PMG's position as the premier promoter to international sports and lifestyle events in Korea. The fact that the Ballantine's Championship has now been extended to 2013 is further tangible evidence of the considerable value of the asset that PMG has built over the last 3 years. It is also another example of the long term contracts being generated by PMG to create highly visible future revenues as the 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
UK 100

Latest directors dealings