 The channel was set up by the Victorian thoroughbred racing industry and Sydney metropolitan racing clubs as an alternative to Sky Racing and as an attempt by the racing clubs concerned "to capture the valuable assets of racing media rights and leverage them to the benefit of racing".TVN was 50% owned by Victorian racings organisations Melbourne Racing Club, Victoria Racing Club, Moonee Valley Racing Club and Country Racing Victoria; and 50% by the Sydney-based, Australian Turf Club.It launched in May 2005 and ceased almost 10 years later in March 2015.