By Danny Russell and Frances Howe
Craig Hutchison has announced his company will become the only dedicated radio broadcaster of racing in Victoria after acquiring the brand, audio and broadcasting assets of radio station RSN Racing and Sport.
The $3.25 million acquisition of RSN (majority owned by Racing Victoria) by Hutchison’s Sports Entertainment Group was announced on Tuesday. The deal will be funded by the company’s cash reserves and is expected to be completed by September 1.
Craig Hutchison, chief executive of Sports Entertainment Group.Credit: Joe Armao
“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 Giddy Up with Gareth Hall.
SEN will become the only dedicated broadcaster of racing in Victoria after acquiring the brand, audio and broadcasting assets of RSN Racing and Sport.Credit: Getty Images
Also on Tuesday, RSN director Aaron Morrison said SEG stood out from other potential investors, saying it was an “appropriate next owner of RSN because of its ‘expertise, capabilities, distribution network and their desire to grow audiences’.
“This long-term agreement preserves the rich heritage of RSN and the audio broadcast of VRI races that RSN listeners value, while providing opportunities for new and innovative content on the station.”
Two sources not authorised to speak publicly about the deal when it was being negotiated in March said Hutchison, who is the largest shareholder in SEN, had already tried – and failed – to buy RSN three years ago. At the time, Racing Victoria had outbid Hutchison to buy RSN, which was valued at $7.5 million.
The two sources said RSN’s value dropped when Tabcorp withdrew $3 million in annual sponsorship in August last year.
The announcement comes just over a week after SEG shared a market update saying it was forecasting more growth into the 2025-26 financial year, in part due to the sale of the Perth Wildcats basketball team for $40 million, which it excluded from its net cash position but which reduced the company’s debt.
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