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Sports Entertainment Group

From Alfawiki
Sports Entertainment Group
Company typePublic
IndustrySports media and entertainment
PredecessorPacific Star Network
Founded2001
Headquarters
Melbourne
,
Australia
Key people
Craig Hutchison (CEO)
ProductsSports media content, sports teams ownership and management

Sports Entertainment Group (SEG), previously known as Pacific Star Network, is an Australian company specializing in sports media content and entertainment. SEG owns and manages Sports Entertainment Network (SEN).

History

Following several rebrandings throughout the 1990s and early 2000s, the business operated under the name Pacific Star Network for a period of 16 years.

In December 2014, Pacific Star Network purchased Morrison Media Services, the publisher behind Frankie Magazine and Smith Journal. This publishing arm was later sold to Nextmedia in September 2018.

Pacific Star Network took full ownership of Crocmedia in January 2018. By September 2020, Crocmedia was renamed Sports Entertainment Network (SEN). Subsequently, in November 2020, Pacific Star Network rebranded itself as Sports Entertainment Group (SEG).

For the financial year 2022–23, SEG disclosed a loss amounting to $9.2 million in September 2023 and requested relief on loan covenants from its banking institution. By November 2023, the company indicated it needed either fresh capital or new investors within nine months to maintain operations. To conclude the year, SEG divested 3.75% of its sports teams division, SEN Teams, generating $1.5 million from new individual stakeholders.

SEN Teams

As of December 2024, SEG’s sports teams division, SEN Teams, owned five clubs.

From 2018 until 2021, under the banners of Pacific Star Network and Crocmedia, SEG held a 25% equity interest in Melbourne United, a National Basketball League (NBL) team.

In July 2021, SEG purchased the Perth Wildcats, a competing NBL franchise, for roughly $8.5 million. Later that year, SEN’s New Zealand branch acquired the Otago Nuggets of the New Zealand NBL. In March 2022, SEN introduced the Southern Hoiho to participate in the inaugural season of Tauihi Basketball Aotearoa. Expansion continued with the acquisition of Bendigo Spirit from the Women’s National Basketball League (WNBL) in April 2022 and obtaining a Super Netball licence in July 2023 to establish the Melbourne Mavericks.

Basketball Australia granted approval to SEN Teams in May 2024 to operate a second WNBL franchise. On 13 June 2024, ownership of the Perth Lynx WNBL licence was transferred to Perth Lynx Pty Ltd, held by SEN investors Christian Hauff and Jodi Millhahn. SEN Teams assumed majority control of the Lynx on 10 December 2024. SEG CEO Craig Hutchison mentioned that delays in acquiring the Lynx were due to timing issues related to selling the Perth Wildcats.

In July 2024, SEG agreed to sell a 90% portion of their existing 95% stake in the Perth Wildcats to MT Arena Capital Investment at an estimated valuation of $40 million. On 14 August, SEG sold a 52.5% share for $21 million to Western Australian businessman Mark Arena, becoming minority shareholders. Arena is scheduled to pay an additional $15 million in 2026 for another 37.5% stake with an option for full ownership by 2028.

SEG announced plans in March 2025 to withdraw from involvement with Southern Hoiho and Otago Nuggets following the conclusion of the New Zealand NBL season that year. Ownership of both teams will transfer on 31 July 2025 to a local community group based in Dunedin.

Assets

External links

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