Hutchy goes whack in that podcast! I think we will have to await the AGM this Thursday for a real insight into the financial state of SEG.
Good to see this covered by the media’s two most honourable men! Barrett defending his mate. Maybe Barrett needs to look at himself and how he goes after footballers some of whom had/have mental issues. He doesn’t spare them and repeats garbage from the Herald Sun but they, the Herald Sun, are wrong for going after his mate! Cannot mention the mate’s name just incase I annoy another poster. Barrett is just another bag of hot air.
In the Podcast Hutchy says he was would be asking for an apology from David Penberthy for his comments on Fiveaa. Also said Penbo was in line for a job at 2GB but they might rethink that now.
Anyone able to allude to what was said?
And pretty strong words at Graham Mott too. Accusing him of living in the pre-digital dark ages with his comments and philosophy of modern radio. I don’t disagree. Mott never believed in podcasting, digital apps and streaming.
Craig Hutchison speaking of Graham Mott:
“He didn’t believe a digital radio age or the evolution of the internet or podcasts or any of the areas of distribution, so asking him his views — and I’m not saying his views are right, wrong or indifferent — but (asking for) his views is like asking a video store owner who they think is going to win the streaming wars. That’s the reality.
“His opinion of us is that. My opinion is, he comes from a different era where he inherited other people’s builds of stations rather than ever doing it himself.”
Why would 2GB reconsider hiring someone who was critical of a commercial competitor?
If you’ve seen the site, it’s a very cheap and inefficient site. If it is even close to 400w to begin with, most would be lost in inefficiencies.
Plenty of swampy land in the centre of the coast to place the transmitter yet SEN seem to have zero interest of improving terrestrial access.
The Burleigh site, at a building at the golf club is far from lattice steel, guy wired mast of the correct wavelength, half wave or quarter wave.
SEN would do well to emulate their deal with WCR in Mandurah and negotiate to lease 32kbps from ARN or SCA (let’s face it, 16kbps enough for their poor audio quality of a talk based station).
SEN has sold SENZ
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.
This line was interesting from Craig Coleman:
In FY23, our New Zealand business represented a negative $2.4 million drag on underlying EBITDA.
So, got out to stem the losses? Though still by the sounds has some fingers in the pie?
Seems that way.
Am guessing they realised it probably was never going to work for them in NZ but they can still make a bit of coin by taking commission. And programme supply is probably no skin off their nose as it’s content they’re already producing.
Yep, and the cash injection from the sale will help the bottom line and keep a few creditors at bay…
Wonder how much SEN paid to begin with?
Quite possible the NZ TAB has found their Alan Bond.
The just released (11am eastern) NZ radio ratings showed among things that SENZ had just 400 listeners a week at breakfast in the biggest market of Auckland.
And 29k listeners to the station per week in any slot nationwide and 23rd overall. To put that into perspective, you need 305,800 to crack the top 10.
They purchased the frequency leases, as well as other assets. Then also paid for new studios etc in a couple of markets. Mind you, the TAB was sold amongst all of this.
Hard to tell given the complex nature of the deal, I kinda read it as a bit of a wash overall.
Consideration for the original deal in June 2021 was ~NZ$1.3m paid over 18 months, plus NZ$1.75m in services contra to the kiwi TAB.
As pointed out above, the TAB was franchised off in the meantime - I’m not sure that means you’ll see an SEN(Z) Track format (although it’s not impossible given the 3.5 years, and counting, of Entain among others throwing sponsor money at the Track format) - but I also don’t expect it will mean back to “TAB Trackside as usual” either.
Possible you could go back to a hybrid format like the BSport/RadioLive Sport days, but that depends on whether they’ll want to keep other local sports rights like the cricket. I suspect rights that aren’t “rugby union” aren’t worth a huge amount, though, hence why NZME won’t likely be wanting to drop them any time soon - and thus the rub.
Well SEN (ASX : SEG) sure loves to huff and puff regards their … er … strategy. But reality will prevail and someone will blow the house down in due course. Banks will call it in imho. CBA out to 28.7m exposure from 8.6m originally … yikes! Or maybe ouch !! ASX release today:
What do you think the SENZ format will honestly look like from early next year? Breakfast show and then trackside? Will the current shows continue? Hmm.
No idea, just repeating what Hutchy said. I doubt Penbo would move back to Sydney anyway.
Apparently Hutchy requested an apology from Penbo because he went with a rumour on FiveAA that SENSA couldn’t pay its bills and debt collectors were involved.
Penbo as a newspaper editor understands how these rumour files work, if he’s naming people, there has to be truth otherwise it exposes him & his employer to litigation.