Sports Entertainment Group

Last updated

Sports Entertainment Group
Formation1994 (1994) [1]
Type Publicly listed company
Headquarters Melbourne, Victoria, Australia
CEO
 Craig Hutchison
Chairman
Craig Coleman
Colm O'Brien
Andrew Moffat
Ronald Hall
Chris Giannopoulos
Website sportsentertainmentnetwork.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).

Contents

History

After going through a number of name changes in the 1990s and early 2000s, the company was known as Pacific Star Network for 16 years. [1]

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 (SEN). [6] Two months later, Pacific Star Network changed its name to Sports Entertainment Group (SEG). [2] [7]

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. [8] [9] In November 2023, it was reported that SEG required a cash injection or new investors in the next nine months to survive. [10] To finish the year, SEG sold 3.75 per cent of their sporting teams business, SEN Teams, and received $1.5 million in investor funds from new individual shareholders. [11] [12]

SEN Teams

SEG's sporting teams business, SEN Teams, is the owner of five clubs as of December 2024. [13]

Under Pacific Star Network and Crocmedia, the company owned 25 percent of National Basketball League (NBL) team Melbourne United between 2018 and 2021. [14] [15]

In July 2021, SEG purchased rival NBL team the Perth Wildcats [16] [17] [18] for roughly $8.5 million. [11] In November 2021, SEG's New Zealand subsidiary purchased New Zealand National Basketball League (NZNBL) team the Otago Nuggets. [19] In March 2022, SEN unveiled the Southern Hoiho for the inaugural Tauihi Basketball Aotearoa season. [20] SEN Teams purchased Women's National Basketball League (WNBL) team the Bendigo Spirit in April 2022 [21] and acquired a Super Netball team licence in July 2023, [22] which became the Melbourne Mavericks. [11]

In May 2024, Basketball Australia granted SEN Teams permission to run a second WNBL club. [23] On 13 June 2024, the Perth Lynx's WNBL licence was transferred to Perth Lynx Pty Ltd, an organisation owned by SEN Teams investors Christian Hauff and Jodi Millhahn. [24] [25] [26] [27] On 10 December 2024, SEN Teams took over from Hauff and Millhahn as majority owners of the Lynx. Hauff and Millhahn will remain shareholders and co-chair the club's board of directors. [13] [28] SEG chief executive Craig Hutchison later revealed the timing of the sale of the Perth Wildcats prevented SEN Teams from completing a deal to own the Perth Lynx earlier in 2024. [29]

In July 2024, SEG agreed to sell 90% of their 95% shareholder ownership of the Perth Wildcats to MT Arena Capital Investment at an estimated value of $40 million. [30] On 14 August 2024, SEG officially sold 52.5 per cent of the club for $21 million to WA businessman Mark Arena. SEG subsequently shifted to the position of minority shareholders of the Wildcats. Arena will provide another payment of $15 million in 2026 to receive an extra 37.5 per cent and can then buy the entire club in 2028. [31] [32]

Assets

Related Research Articles

<span class="mw-page-title-main">Perth Wildcats</span> Basketball team based in Perth, Western Australia

The Perth Wildcats are an Australian professional basketball team based in Perth, Western Australia. The Wildcats compete in the National Basketball League (NBL) and play their home games at RAC Arena, known colloquially as "The Jungle".

James Crawford is an American former professional basketball player who played in the Australian National Basketball League from 1982 to 2003.

<span class="mw-page-title-main">Craig Hutchison (broadcaster)</span> Australian sports journalist (born 1974)

Craig Hutchison is an Australian journalist, sports broadcaster and businessman. He is the chief executive officer of Sports Entertainment Group.

<span class="mw-page-title-main">Sports Entertainment Network</span> Australian & American Network Co

Sports Entertainment Network (SEN), formerly Crocmedia, is an Australian radio and television distribution company established in 2006. SEN's parent company is Sports Entertainment Group (SEG), formerly Pacific Star Network.

<span class="mw-page-title-main">Perth Lynx</span> Western Australian womens basketball team

The Perth Lynx are an Australian professional basketball team based in Perth, Western Australia. The Lynx compete in the Women's National Basketball League (WNBL) and play their home games at Bendat Basketball Centre. For sponsorship reasons, they are known as the Northern Star Resources Perth Lynx.

<span class="mw-page-title-main">Basketball Western Australia</span> Governing body of basketball in Western Australia

Basketball Western Australia is the governing body of basketball in Western Australia and is responsible for the development and promotion of the sport at a state and local level.

<span class="mw-page-title-main">Bryce Cotton</span> American basketball player

Bryce Jiron Cotton is an American professional basketball player for the Perth Wildcats of the National Basketball League (NBL). In the NBL, he is a four-time winner of the Most Valuable Player Award and has won three championships. He is also a two-time grand final MVP, seven-time All-NBL First Team recipient, and has seven scoring titles.

Jack Bendat was an American-born Australian businessman most known for his ownership of the Perth Wildcats basketball team between 2007 and 2021. Previously involved in construction and media businesses with longtime business partner Kerry Stokes, Bendat was involved in philanthropic and sporting interests.

<span class="mw-page-title-main">Sami Whitcomb</span> American-Australian basketball player (born 1988)

Samantha Allison Whitcomb is an American-Australian professional basketball player for the Bendigo Spirit of the Women's National Basketball League (WNBL). She played college basketball for the Washington Huskies before making a name for herself in Australia with the Rockingham Flames in the State Basketball League (SBL) and the Perth Lynx in the Women's National Basketball League (WNBL). She made her debut in the Women's National Basketball Association (WNBA) in 2017 and won championships with the Seattle Storm in 2018 and 2020. She became an Australian citizen in 2018 and made her debut for the Australian Opals.

Bradley Robbins is an Australian basketball coach and former player who is most known for his time spent in the National Basketball League (NBL) with the Perth Wildcats. He currently serves as the head coach of the Warwick Senators women's team in the NBL1 West.

<span class="mw-page-title-main">Alex Ciabattoni</span> Australian basketball player

Alexandra Antonietta Ciabattoni is an Australian professional basketball player for the Perth Lynx of the Women's National Basketball League (WNBL). She is also contracted with the Rockingham Flames of the NBL1 West. She played college basketball for the Newman Jets before beginning her career in the WNBL.

<span class="mw-page-title-main">Andy Stewart (basketball)</span> Australian basketball coach

Andy Stewart is an Australian basketball coach.

Anneli Maley is an Australian professional basketball player for the Perth Lynx of the Women's National Basketball League (WNBL). She is also contracted with the Perth Redbacks of the NBL1 West. She made her WNBL debut in 2016 and then spent two seasons in the United States playing college basketball for the Oregon Ducks and TCU Horned Frogs. With the Bendigo Spirit in 2022, she was named the WNBL Most Valuable Player.

Marena Whittle is an Australian professional basketball player.

<span class="mw-page-title-main">Devondrick Walker</span> American basketball player

Devondrick Deshawn Walker is an American professional basketball player for the Rockingham Flames of the NBL1 West. He played three years of college basketball for the Texas A&M–Commerce Lions between 2011 and 2014 before playing the first three seasons of his professional career in the NBA Development League. He later played in Italy, France, Australia, New Zealand and Latvia. In the NBL1 West, Walker is a two-time league MVP and a championship winner in 2022.

<span class="mw-page-title-main">Southside Flyers</span> Basketball team in Victoria, Australia

The Southside Flyers are an Australian professional basketball team based in Melbourne, Victoria. The Flyers compete in the Women's National Basketball League (WNBL) and play their home games at the State Basketball Centre. For sponsorship purposes, they are known as the Jayco Southside Flyers.

<span class="mw-page-title-main">Aari McDonald</span> American basketball player (born 1998)

Aarion Shawnae McDonald is an American professional basketball player for the Los Angeles Sparks of the Women's National Basketball Association (WNBA) and for the Beijing Great Wall of the Women's Chinese Basketball Association (WCBA). She was drafted third overall by the Atlanta Dream in the 2021 WNBA draft after playing college basketball at the University of Washington and the University of Arizona.

<span class="mw-page-title-main">Amy Atwell</span> Australian basketball player (born 1998)

Amy Atwell is an Australian professional basketball player for the Perth Lynx of the Women's National Basketball League (WNBL). She played college basketball for the Hawaii Rainbow Wahine, where she won the Big West Conference Player of the Year in 2022. She had briefs stints in the Women's National Basketball Association (WNBA) in 2022 with the Los Angeles Sparks and in 2024 with the Phoenix Mercury.

Mark Arena is an Australian businessman and cyber security entrepreneur. He co-founded Intel 471 in 2014 and became majority owner of the Perth Wildcats basketball team in 2024.

Melissa Sinfield is an Australian former professional basketball player. She played 13 seasons in the Women's National Basketball League (WNBL), including 11 with the Perth Breakers/Lynx. She also played in the State Basketball League (SBL), where she won five championships with the Perry Lakes Hawks.

References

  1. 1 2 3 "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. ↑ 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.
  9. ↑ O'Donoghue, Craig (17 September 2023). "NBL owner Larry Kestelman backs Perth Wildcats owners Sports Entertainment Group and Craig Hutchison". The West Australian . Archived from the original on 17 September 2023. Retrieved 19 September 2023.
  10. ↑ 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.
  11. 1 2 3 4 O'Donoghue, Craig (1 February 2024). "Craig Hutchison explains Sports Entertainment Group's sale of part of Teams group including Perth Wildcats". The West Australian . Archived from the original on 1 February 2024. Retrieved 2 February 2024.
  12. ↑ O'Donoghue, Craig (11 March 2024). "New Perth Wildcats owners Bill Bloking, Annie Hill and Christian Hauff explain why they joined Craig Hutchison". The West Australian . Archived from the original on 11 March 2024. Retrieved 11 March 2024.
  13. 1 2 3 "SEN bolster partnership and investment, acquire majority stake in Perth Lynx". wnbl.basketball/perth. 10 December 2024. Archived from the original on 10 December 2024.
  14. ↑ "Crocmedia Acquires Stake In Melbourne United Basketball Team". bandt.com.au. 16 July 2018. Retrieved 8 October 2021.
  15. ↑ O'Donoghue, Craig (15 September 2021). "Sports Entertainment Group's Craig Hutchison spends first day at Perth Wildcats after travelling to WA" . The West Australian . 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.
  16. ↑ "Sports Entertainment Group take over from Jack Bendat as new owners of Perth Wildcats". abc.net.au. 1 July 2021. Retrieved 8 October 2021.
  17. ↑ "SEN sign agreement to acquire Perth Wildcats". wildcats.com.au. 1 July 2021. Retrieved 8 October 2021.
  18. ↑ "Statement on Perth Wildcats". nbl.com.au. 1 July 2021. Retrieved 8 October 2021.
  19. 1 2 "SPORTS ENTERTAINMENT NETWORK SECURES OTAGO NUGGETS". nznbl.basketball. 8 November 2021. Retrieved 8 November 2021.
  20. ↑ Cheshire, Jeff (30 March 2022). "Southern Hoiho to be unveiled as new women's franchise". odt.co.nz. Retrieved 10 May 2024.
  21. ↑ "SPORTS ENTERTAINMENT NETWORK GROW BASKETBALL PRESENCE WITH WNBL BENDIGO SPIRIT ACQUISITION". sen.com.au. 12 April 2022. Retrieved 12 April 2022.
  22. ↑ Bennett, Russell (21 July 2023). "Craig Hutchison takes up Super Netball licence for Melbourne side to replace Collingwood". The Age . Retrieved 14 November 2023.
  23. ↑ O'Donoghue, Craig (10 May 2024). "Perth Lynx are closing in on new ownership as WNBL guarantees their place in the league for next season". The West Australian . Archived from the original on 10 May 2024. Retrieved 10 May 2024.
  24. ↑ Lauren (13 June 2024). "TRANSITION OF PERTH LYNX WNBL LICENCE". wnbl.basketball/perth. Archived from the original on 13 June 2024.
  25. ↑ O'Donoghue, Craig (13 June 2024). "Basketball WA transfer their WNBL licence for Perth Lynx to Christian Hauff and Jodi Millhahn". The West Australian . Archived from the original on 13 June 2024.
  26. ↑ "SEN ENTERS MANAGEMENT RIGHTS AGREEMENT WITH NEW PERTH LYNX OWNERS". SEN.com.au. 13 June 2024. Archived from the original on 13 June 2024.
  27. ↑ O'Donoghue, Craig (4 December 2024). "Dribble Podcast: Perth Lynx owner Christian Hauff firmly with Red Army despite part Bendigo Spirit stake". The West Australian . Archived from the original on 4 December 2024. Retrieved 4 December 2024.
  28. ↑ O'Donoghue, Craig (10 December 2024). "Craig Hutchison's SEN Teams becomes majority owner of WNBL's Perth Lynx in mid-season deal". The West Australian . Archived from the original on 10 December 2024.
  29. ↑ O'Donoghue, Craig (11 December 2024). "Craig Hutchison always wanted SEN Teams to own Perth Lynx but had to complete Perth Wildcats deal first". The West Australian . Archived from the original on 11 December 2024.
  30. ↑ "Perth Wildcats sale agreement". Wildcats.com.au. 11 July 2024. Archived from the original on 11 July 2024.
  31. ↑ "Wildcats welcome Mark Arena as new owner". Wildcats.com.au. 14 August 2024. Archived from the original on 14 August 2024.
  32. ↑ O'Donoghue, Craig (14 August 2024). "Mark Arena is the new majority owner of NBL's Perth Wildcats after he completed his $21 million payment". The West Australian . Archived from the original on 14 August 2024.
  33. ↑ "Pacific Star Network to merge with Crocmedia" (PDF). canterburypartners.com.au. 8 January 2018. Retrieved 8 October 2021.
  34. 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...
  35. ↑ "Pacific Star unit Crocmedia to acquire TV broadcast satellite company Rapid TV". spglobal.com. 19 July 2019. Retrieved 8 October 2021.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.