Craig Hutchison gears up for $3.2m racing expansion
The $3.25 million acquisition of RSN, owned by Racing Victoria, by Hutchison's Sports Entertainment Group (SEG) was announced on Tuesday. The deal will be funded by the company's cash reserves and is expected to be completed by September 1.
'This acquisition allows us to bring our unique approach to a broader audience and amplify all three codes of Victorian racing,' Hutchison said in the ASX announcement.
'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 moving RSN forward into an exciting new era.'
SEG will still operate RSN, and its own network SEN Track, on their existing frequencies, but the announcement said both brands would benefit from SEG's 'broader audio and digital ecosystem'. Some RSN programming will simultaneously be cast on racing.com.
Racing insiders, not authorised to speak publicly, said there could be changes to RSN's staff once Hutchison's SEG takes control of the company later this year.
A Racing Victoria statement said Hutchison's group was committed to live coverage and analysis of Victorian thoroughbred, harness and greyhound racing on the 927 frequency.
'SEN has advised that it may make some changes to RSN programming, with further updates to be provided in due course,' the statement said.
RSN's regular slots include midweek breakfast programs hosted by Daniel Harford and Michael Felgate, as well as roaming race day updates from industry veteran Andrew Bensley. Hutchison's takeover would also allow for the sharing of content across both stations such as SEN Breakfast with Garry Lyon and Tim Watson or Giddyup with Gareth Hall.
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