Sports Entertainment Group Limited (SEG) is pleased to announce its wholly owned subsidiary Sports Entertainment Network NZ Limited (SEN NZ) has entered a non-binding agreement with TAB New Zealand (TAB NZ) to acquire SEN NZ’s digital and audio businesses (SENZ Digital & Audio) including the SENZ brand, app and website, and its network of 28 radio stations across 29 frequencies.
The multi-faceted deal will see SEG receive NZ$4 million cash. The transaction is also paired with a content supply partnership. SEG’s Australian business, SEN, will make all SEN programming available on SENZ frequencies. SEN NZ will remain the commercial arm for SENZ Digital & Audio, sourcing third-party advertising revenue for the business under new ownership. SEG will earn commission income on advertising revenue it sources.
SEG has also bolstered its strong relationship with TAB NZ’s partner Entain New Zealand, and recently agreed to extend its extension to its commercial partnership with Entain’s Australian brands for a three-year term.
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