Sports Entertainment Group
Formation1994 (1994)[1]
TypePublicly listed company
HeadquartersMelbourne, Victoria, Australia
CEO
Craig Hutchison
Chairman
Craig Coleman
Colm O'Brien
Andrew Moffat
Ronald Hall
Chris Giannopoulos
Websitesportsentertainmentnetwork.com.au
Formerly called
Ledge Group Limited (1994)
Media Technology Corporation Limited (1994–2000)
Data and Commerce Limited (2000–2004)
Pacific Star Network Limited (2004–2020)[1]

Sports Entertainment Group (SEG), formerly Pacific Star Network,[2] is an Australian sports media content and entertainment business. SEG is the owner and parent company of Sports Entertainment Network (SEN).

In December 2014, Pacific Star Network acquired Morrison Media Services, the publisher of Frankie Magazine and Smith Journal.[3] They sold Morrison Media Services to Nextmedia in September 2018.[4]

In January 2018, Pacific Star Network acquired 100 per cent of equity in Crocmedia.[5] In September 2020, Pacific Star Network rebranded Crocmedia as Sports Entertainment Network.[6] Two months later, Pacific Star Network changed its name to Sports Entertainment Group.[2][7]

Under Pacific Star Network and Crocmedia, the company owned 25 percent of National Basketball League (NBL) team Melbourne United between 2018 and 2021.[8][9] In July 2021, SEG purchased rival NBL team the Perth Wildcats.[10][11][12] In November 2021, SEG's New Zealand subsidiary purchased New Zealand National Basketball League (NZNBL) team the Otago Nuggets.[13] In April 2022, SEN purchased Women's National Basketball League (WNBL) team the Bendigo Spirit.[14] In July 2023, SEN acquired a Super Netball team licence.[15]

In September 2023, it was reported that SEG posted a $9.2 million loss in the 2022–23 financial year. The company reportedly asked for covenant relief from the bank in the June quarter.[16][17] In November 2023, it was reported that SEG required a cash injection or new investors in the next nine months to survive.[18]

Assets

References

  1. 1 2 "PACIFIC STAR NETWORK LIMITED(PNW)". investogain.com.au. Retrieved 8 October 2021.
  2. 1 2 "Sports Entertainment Group". businessnews.com.au. Retrieved 8 October 2021.
  3. ↑ "Pacific Star Network completes media merger with Crocmedia". proactiveinvestors.com.au. 3 April 2018. Retrieved 8 October 2021.
  4. ↑ "Pacific Star Network sells Frankie and Smith Journal for $2.4m". mumbrella.com.au. 3 September 2018. Retrieved 8 October 2021.
  5. ↑ Pierik, Jon (8 January 2018). "Craig Hutchison to be biggest shareholder in SEN in Crocmedia deal". The Age. Retrieved 17 January 2018.
  6. ↑ "PSN rebrands Crocmedia as Sports Entertainment Network". radiotoday.com.au. 30 September 2020. Retrieved 8 October 2021.
  7. ↑ "Sports Entertainment Network year of aggressive growth lifted revenue and profit". mediaweek.com.au. 31 August 2021. Retrieved 8 October 2021. The year saw two rebrands under CEO Craig Hutchison with the names Pacific Star Network and Crocmedia being dropped for Sports Entertainment Group and Sports Entertainment Network.
  8. ↑ "Crocmedia Acquires Stake In Melbourne United Basketball Team". bandt.com.au. 16 July 2018. Retrieved 8 October 2021.
  9. ↑ O'Donoghue, Craig (15 September 2021). "Sports Entertainment Group's Craig Hutchison spends first day at Perth Wildcats after travelling to WA". thewest.com.au. Retrieved 8 October 2021. New Perth Wildcats owners, Sports Entertainment Group are in the final stage of selling their shares in Melbourne United and will have completed the deal before the start of the NBL season. SEG bought the Wildcats from Jack Bendat in July and promised to divest their 25 per cent stake in the NBL champions.
  10. ↑ "Sports Entertainment Group take over from Jack Bendat as new owners of Perth Wildcats". abc.net.au. 1 July 2021. Retrieved 8 October 2021.
  11. ↑ "SEN sign agreement to acquire Perth Wildcats". wildcats.com.au. 1 July 2021. Retrieved 8 October 2021.
  12. ↑ "Statement on Perth Wildcats". nbl.com.au. 1 July 2021. Retrieved 8 October 2021.
  13. 1 2 "SPORTS ENTERTAINMENT NETWORK SECURES OTAGO NUGGETS". nznbl.basketball. 8 November 2021. Retrieved 8 November 2021.
  14. ↑ "SPORTS ENTERTAINMENT NETWORK GROW BASKETBALL PRESENCE WITH WNBL BENDIGO SPIRIT ACQUISITION". sen.com.au. 12 April 2022. Retrieved 12 April 2022.
  15. ↑ Bennett, Russell (21 July 2023). "Craig Hutchison takes up Super Netball licence for Melbourne side to replace Collingwood". The Age. Retrieved 14 November 2023.
  16. ↑ Saeed, Daanyal (15 September 2023). "Craig Hutchison's Sport Entertainment Network reports $9.2m loss amid huge exec bonuses". News.com.au. Retrieved 19 September 2023.
  17. ↑ O'Donoghue, Craig (17 September 2023). "NBL owner Larry Kestelman backs Perth Wildcats owners Sports Entertainment Group and Craig Hutchison". TheWest.com.au. Archived from the original on 17 September 2023. Retrieved 19 September 2023.
  18. ↑ Jaspan, Calum (14 November 2023). "Craig Hutchison's sports and media empire on the ropes as directors, auditor sound alarm". The Sydney Morning Herald. Archived from the original on 14 November 2023. Retrieved 14 November 2023.
  19. ↑ "Pacific Star Network to merge with Crocmedia" (PDF). canterburypartners.com.au. 8 January 2018. Retrieved 8 October 2021.
  20. 1 2 "Bravo Management Acquires Precision Sports and Entertainment Group". ministryofsport.com.au. 2019. Retrieved 8 October 2021. Bravo has been considering getting back into representing current athletes for some time after merging in with Pacific Star Network and the broader Crocmedia business...
  21. ↑ "Pacific Star unit Crocmedia to acquire TV broadcast satellite company Rapid TV". spglobal.com. 19 July 2019. Retrieved 8 October 2021.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.