Sports Entertainment Group Limited (SEG: ASX) has announced it will acquire the brand and audio & digital broadcasting assets of 3UZ Pty Ltd (RSN). This landmark move positions SEG as the sole dedicated broadcaster of racing in Victoria across all three codes. Sports Entertainment Group operates radio stations and produces content, focusing on sports and entertainment. The acquisition, expected to finalise on September 1, 2025, will cost $3.25 million, payable over three years, funded from SEG’s existing cash reserves.
The company anticipates the acquisition will boost earnings in FY26, reinforcing previous guidance for double-digit EBITDA percentage growth. According to SEG, the partnership underscores its dedication to racing and its audience, building upon its recent five-year production partnership between SEN’s television arm, Rainmaker, and Harness Racing Victoria (HRV). This existing partnership sees 365 days of harness racing broadcast across 28 tracks on Sky Racing. SEG intends to operate both RSN and SEN Track on their current frequencies, leveraging its broader audio and digital ecosystem to enhance the reach and quality of racing content across Victoria and beyond.
Craig Hutchison, CEO of Sports Entertainment Group, emphasised the company’s commitment to racing, stating the acquisition will enable SEG to bring its unique approach to a broader audience and amplify all three codes of Victorian racing. He acknowledged RSN’s 100-year history as an institution in Melbourne’s radio, racing, and sports scene, vowing to respect and protect that legacy while moving RSN forward. RSN also welcomed the partnership, with RSN Director Aaron Morrison noting that SEG’s expertise, capabilities, distribution network and desire to grow audiences made them the best commercial partner.
The agreement will also see SEG provide some RSN programming on simulcast to racing.com. The acquisition remains subject to customary conditions of sale. SEG encourages anyone seeking more information to contact Craig Hutchison, Managing Director, or Trent Bond, Chief Financial Officer.
