Sports Entertainment Group buys Mediaworks for NZ$130M

• Sports Entertainment Group executed a binding agreement to acquire 100% of MediaWorks for an enterprise value of NZ$130 million.
• The transaction will be funded via existing cash reserves and a new $87.6 million senior debt facility from Commonwealth Bank of Australia.
• The company stated that the transaction is expected to create a trans-Tasman audio, digital, and entertainment group with an audience exceeding 5 million listeners.

Sports Entertainment Group (ASX:SEG) signed a binding share purchase agreement to acquire MediaWorks for an enterprise value of NZ$130 million.

The acquisition purchase price is based on a credible path being presented for EBITDA to achieve greater than NZ$38 million by the financial year 2030.

The acquisition is expected to be materially accretive to SEG’s earnings per share.

"It gives us immediate market leadership in New Zealand, a highly complementary content offering, and a genuine platform to extend our sport, digital and entertainment capability across the Tasman," said Sports Entertainment Group CEO Craig Hutchison.

The transaction will be funded through a combination of existing cash reserves and a new $87.6 million senior debt facility from Commonwealth Bank of Australia (ASX:CBA).

Completion of the acquisition is targeted for Oct. 1, subject to customary conditions, including New Zealand Overseas Investment Office approval.

The existing MediaWorks management team, led by CEO Wendy Palmer, is expected to continue to lead the New Zealand business following completion.

Following the announcement, the Sports Entertainment Group share price was unchanged at $0.30.

The company recently reported unaudited FY26 revenue of $152.8 million alongside a cash balance growing to $24 million at year end.