SEN boss Craig Hutchison acquires racing station RSN in $3.25m sale
Racing Victoria, who had controlling ownership of RSN, agreed to terms of the sale with Sports Entertainment Group, owner of radio station SEN and its digital subsidiaries, including racing-focused SEN Track which was established in 2020.
The $3.25m sale is expected to be completed on September 1, and will be paid over three years.
Hutchison tried to buy RSN in 2021 but was outbid by RV at the time.
Racing Victoria owned 73.25 per cent of RSN with the remainder shared by Harness Racing Victoria (18.75 per cent) and Greyhound Racing Victoria (8 per cent).
The sale gives SEN audio broadcast rights of the state's three racing codes – thoroughbreds, harness and greyhounds.
Under the agreement, SEN must prioritise Victorian racing on RSN and maintain programming content, including tips, analysis, preview and review shows.
SEG will operate both RSN and SEN Track on their existing frequencies.
'SEN is all in on racing,' Hutchison said.
'We're passionate about delivering innovative, engaging coverage that resonates with both diehard racing fans and casual listeners. This acquisition allows us to bring our unique approach to an even broader audience, and we're excited about what's ahead.
'RSN celebrates its 100th anniversary this year and is an institution in Melbourne's radio, racing and sports history. We look forward to respecting and protecting that legacy while driving RSN forward into a new, exciting era.'
Racing Victoria chief executive Aaron Morrison said SEN was the right 'strategic partner' for the Victorian racing industry (VRI).
'We welcome the opportunity to partner with SEN who see a strong future for the three codes of racing in Victoria and are investing to help us realise that,' Morrison said
'SEN stood out for the VRI as an ongoing commercial partner and appropriate next owner of RSN because of their expertise, capabilities, distribution network and their desire to grow audiences for racing.
'This long-term agreement preserves the rich heritage of RSN and the audio broadcast of VRI races that RSN listeners value, while providing opportunities for new and innovative content on the station.
'It is essential that the three codes of Victorian racing remain easily accessible and are showcased to people across Victoria and beyond, which RSN will continue to do for years to come.
'The sale of RSN provides the three codes with an opportunity to redirect our annual operating costs back into our codes to help support core initiatives around prizemoney, infrastructure, integrity and welfare.'
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