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).
 | |
| Formation | 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 |
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] |
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 six clubs as of June 2024.[12][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]
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.[26] 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.[27][28]
Assets
- BallPark Entertainment[29]
- Bravo Management[30]
- Precision Sports Entertainment Group[30]
- Sports Entertainment Network
- AFL Record
- 6EL
- 1116 SEN
- 693 SENQ
- SEN SA
- SEN Track
- Sports Entertainment Network New Zealand (SENZ)[19]
- SEN Teams[11]
- Bendigo Spirit (WNBL)
- Melbourne Mavericks (Super Netball)
- Otago Nuggets (NZNBL)
- Perth Lynx (WNBL) (through Perth Lynx Pty Ltd)
- Perth Wildcats (NBL) (minority shareholders)
- Southern Hoiho (Tauihi Basketball Aotearoa)
- Rainmaker / Rapid TV[31]
References
External links
Wikiwand in your browser!
Seamless Wikipedia browsing. On steroids.
Every time you click a link to Wikipedia, Wiktionary or Wikiquote in your browser's search results, it will show the modern Wikiwand interface.
Wikiwand extension is a five stars, simple, with minimum permission required to keep your browsing private, safe and transparent.
