- Associated Press - Thursday, January 26, 2012

CONCORD, N.H. (AP) - A judge has thrown out a verdict that would have required New Hampshire Motor Speedway to pay nearly $1 million to cancel its contract with Motor Racing Network.

A jury awarded MRN $993,724 last September because New Hampshire did not meet a three-year notice of termination when Speedway Motorsports Inc. bought the track in 2008. SMI wanted its radio network _ the Performance Racing Network _ to broadcast NASCAR events at the track.

New Hampshire Superior Court Judge Richard McNamara presided over the trial, but threw out the verdict in a Wednesday ruling.

McNamara wrote the jury based its award on MRN’s projected lost profits, and that can’t be a basis for damages.

International Speedway Corp., which owns MRN, said in a statement it will appeal the ruling.

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