Craig Hutchison’s Crocmedia set to buy a controlling interest in SEN
THE position of high-profile football figures Garry Lyon and Tim Watson at Melbourne’s embattled sports radio station SEN has been clouded by a looming change of ownership.
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THE position of high-profile football figures Garry Lyon and Tim Watson at Melbourne’s embattled sports radio station SEN has been clouded by a looming change of ownership.
The Herald Sun understands media company Crocmedia is set to buy a controlling interest in the company that owns SEN.
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It follows the retirement of major shareholder Ron Hall as a non-executive director of Pacific Star Network and the resignation of four other board members, including chairman and America’s Cup hero John Bertrand, former Collingwood chief executive Gary Pert and one-time St Kilda CEO Michael Nettlefold.
A stockmarket adviser suggested it would be highly unusual for a major shareholder not to have board representation, meaning his “holding could be in play”.
Crocmedia ownership involves brothers Mark Rothfield and John Rothfield, aka Dr Turf, and former Footy Show host Craig Hutchison.
John Rothfield and Hutchison currently combine with Liam Pickering in hosting a popular Saturday morning show titled Off The Bench.
Hutchison’s name has been linked with the station CEO role, which was originally earmarked for former Collingwood chief Gary Pert who was expected to start with the station on January 1 with his personal assistant already at the station.
How such a move will affect the current line-up is unclear, although SEN is seen to have underperformed this year with ratings hovering around 3.5 despite a massive launch of their new breakfast show to start the year.
That launch involved the recruitment of Garry Lyon and Hamish McLachlan to partner Tim Watson.
McLachlan has since departed after reports of tension in his relationship with Lyon. Lyon and Watson are both contracted for 2018, although it’s believed a ratings figure of 4 was the desired and expected figure at the beginning of 2017.
SEN trades under Pacific Star Network, a share currently listed at 22 cents although one that is hard to buy and hard to sell according a stock market analyst.
“They are what we call an illiquid stock given their shares are tightly held with their top five shareholders owning 60 per cent, something that is unusual. There is little trading, highlighted today with a buyer at 22 cents and a seller at 36 cents.”
In recent years SEN has been a regular musical chairs in terms of on-air slots, with only Kevin Bartlett’s morning show and Mark Fine at evenings being regular members.
The noon-3pm slot for next year had been recently changed with Francis Leach to be replaced by Andrew Maher.
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