Australian media company Sports Entertainment Group buys MediaWorks for $130 million
Australian radio firm Sports Entertainment Group has acquired MediaWorks, owner of New Zealand commercial radio stations, for NZ$130 million.
Sports Entertainment Group Limited, an Australian media organisation, has purchased MediaWorks for NZ$130 million. The deal marks the return of the Australian company to the New Zealand market as an audio operator. MediaWorks owns several major commercial radio brands including More FM, The Breeze, The Rock, Mai and The Edge. The acquisition will be funded through SEG's existing cash reserves and a new debt facility from the Commonwealth Bank of Australia.
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Stuff
MediaWorks sold to Australian media company for $130m
Sports Entertainment Group Limited is buying MediaWorks for NZ$130 million, returning the Australian media organisation to the New Zealand market as an audio operator.
NZ Herald
Media Insider: MediaWorks sold to Australian audio firm Sports Entertainment Group for $130 million
Sale heralds a remarkable new chapter for More FM and The Breeze owner.
1News
Aussie radio firm buys MediaWorks for $130 million
MediaWorks is behind some of New Zealand's biggest commercial radio brands, including The Rock, More FM, The Breeze, Mai and The Edge.
BusinessDesk
MediaWorks sold to Australian radio firm SEG for $130m
MediaWorks – owner of music radio stations including More FM, The Breeze and The Rock – has been sold to Australian radio firm SEG for an enterprise value of $130 million. ASX-listed SEG said the acquisition would be funded by…
NZ Herald
Media Insider: MediaWorks’ new owner, Sports Entertainment Group, opens up on its $130m acquisition – and why sport plays a pivotal role in growth
Exclusive: SEG boss explains $A5m 'synergies' in deal, and why sport plays a pivotal role.
NZ Herald
Media Insider: Kamahl Santamaria v TVNZ in Employment Court; $130m sale: MediaWorks’ new owner opens up; Matthew Hooton and a newsroom flare-up
Exclusive: MediaWorks' new owner on $130m deal and next moves; TVNZ poll and Māori seats.
NZ Herald
Media Insider: TVNZ v ex-Breakfast host Kamahl Santamaria – state broadcaster fights to keep newsroom names, payout, report secret
Employment Court rejects TVNZ application; broadcaster wants to go to Court of Appeal.