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Sports Entertainment Group Limited (ASX:SEG)

ALERT: Price-sensitive ASX Announcement for SEG
Current share price for SEG : $0.280 -0.025 (-8.20%)+
Announcement
Release
12 Aug 2026 9:18AM
Price at Release
$0.305
Full Release
download
Summary
Sports Entertainment Group Limited (SEG) has announced a binding agreement to acquire MediaWorks, New Zealand's leading audio business, for an enterprise value of NZ$130 million. This acquisition is expected to create a significant trans-Tasman media group with a combined audience of over 5 million listeners across Australia and New Zealand. The strategic acquisition will include funding through SEG’s existing cash reserves and a newly established senior debt facility. Additionally, SEG is launching a placement to raise approximately A$11.7 million to support the acquisition. MediaWorks, which boasts a substantial audience share and the rova digital audio platform, complements SEG’s sports content by broadening its audience and advertiser appeal. The acquisition is projected to be accretive to SEG’s earnings per share, with identified synergies of approximately A$5 million annually. The acquisition is slated for completion on October 1, 2026, pending customary conditions and approvals.
Key Points
  • SEG to acquire MediaWorks for NZ$130 million
  • Acquisition creates a leading trans-Tasman audio, digital and entertainment group
  • MediaWorks is New Zealand's #1 audio business
  • Expected synergies of approximately A$5 million annually
  • Acquisition is accretive to SEG's earnings per share
  • Completion targeted for 1 October 2026
  • Funding includes existing cash reserves and new senior debt facility
  • SEG launched a placement to raise approximately A$11.7 million
  • MediaWorks' strong audience share and digital platform rova
  • SEG aims to extend sports, events, and content offering into New Zealand
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.