Crocmedia pays $8.1m for AFL Record

SPORTS media company Crocmedia has made another big move this time buying a footy icon. See what SEN boss Craig Hutchison’s latest acquisition is.

SPORTS media company Crocmedia has bought the footy record from the AFL for $8.1 million.

The company announced it bought the AFL Record this morning and the purchase will include licensing of trademarks.

“The AFL Record is one of the oldest magazines in Australia so it's a great privilege to become its custodian into the future,” Crocmedia chief executive Craig Hutchison said.

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“We have aspirations to grow the Record’s reach while honouring its iconic past,” he said.

Craig Hutchison. Picture: Jay Town

The deal is comprised of $5.85m cash and $2.25m in prepaid advertising sales that the AFL will keep.

Crocmedia will also be entitled to the profits from the AFL Record from round nine in the 2018 season.

The Record will continue to be produced by AFL Media until the Grand Final edition for 2018.

The acquisition is expected to be completed this week subject to the satisfaction of standard conditions.

It is the latest in a series of acquisitions by Crocmedia who last year merged with the owners of SEN radio station Pacific Star Network.

Hutchison became CEO of SEN as part of the $23.9 million stock-only deal.

Crocmedia also holds AFL radio rights and produces television programs including Future Stars and Off The Bench.