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Footy media , love’m or hate’ m ?

seven said:

Media mogul’s empire slips further towards the brink​

"
Media mogul Craig Hutchison’s empire has taken another hit with reports claiming new investors are desperately needed to save the radio giant.
Hutchison in September shrugged off ongoing suggestions of doom and gloom surrounding the Sports Entertainment Group, the owner of the SEN radio network.

Hutchison and the group is reportedly at the mercy of the Commonwealth Bank, with the financial institution in a position to call for immediate settlement as a result of breached loan conditions.

The uncertainty surrounding the $28.7m line of credit comes after it emerged the company posted a $9.2m loss last financial year.

Sports Entertainment Group’s preliminary final report stated that the company has just over $1 million available from the loan, but had to ask for “covenant relief” from the bank in the June quarter.

The Age has now revealed the network’s future has slipped further into uncertainty with a director’s note in its annual report, released in late October, declaring its status to be “material uncertainty” with significant doubts about its ability to continue to operate.

The pressure is building on the executive to find answers with the majority of its debt due in August, 2024.

Because of that deadline, SEG is seeking new investors, diluting Hutchison’s position as the company’s second-largest shareholder.
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Ahhh... Craig Hutchinson...

I was in the queue at the G about 10 years ago and this fella was pushing his ample frame past all and sundry!
As he waved his accreditation at the gate attendant, it appeared there was a technical problem, at which point he said to the bloke with the scanner....
"Do you know who I am?"
Quick as a flash the bloke says...

"Mate, all ya need to do is look down at your accreditation, it has your name on it if you've forgotten!"

Us humble shitkickers all had a laugh!
 
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Note: I cant read a financial report and this is well out of my areas of (limited) expertise.
How can you not make a buck doing radio and selling adds to betting agencies...surely its a license to print money.
So what has he stuffed up?
- Buying sporting teams that will never see a $. I guess yes. How does this help him?
- Buying shitsville radio stations in the outback. Paying Ian Healy to be on air when the listenership is bugger all. I guess yes. Just syndicate the hell out of everything.

There must be a grander plan, I'm giving the fatboy credit here as I am sure he is smarter than he looks (and me) but suspect he is modelling himself on some USofA joker who works to a far greater market.
 
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A
seven said:

Media mogul’s empire slips further towards the brink​

"
Media mogul Craig Hutchison’s empire has taken another hit with reports claiming new investors are desperately needed to save the radio giant.
Hutchison in September shrugged off ongoing suggestions of doom and gloom surrounding the Sports Entertainment Group, the owner of the SEN radio network.

Hutchison and the group is reportedly at the mercy of the Commonwealth Bank, with the financial institution in a position to call for immediate settlement as a result of breached loan conditions.

The uncertainty surrounding the $28.7m line of credit comes after it emerged the company posted a $9.2m loss last financial year.

Sports Entertainment Group’s preliminary final report stated that the company has just over $1 million available from the loan, but had to ask for “covenant relief” from the bank in the June quarter.

The Age has now revealed the network’s future has slipped further into uncertainty with a director’s note in its annual report, released in late October, declaring its status to be “material uncertainty” with significant doubts about its ability to continue to operate.

The pressure is building on the executive to find answers with the majority of its debt due in August, 2024.

Because of that deadline, SEG is seeking new investors, diluting Hutchison’s position as the company’s second-largest shareholder.
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About time.
Bloke wouldn't know how to his shoe laces.
Where's Karen??? Social security office??
 
Bought into too many other fringe enterprises too quickly, overpaying hosts that aren’t driving the ratings (eg that knob Whateley) and ultimately, struggling for meaningful content. The Australian sporting landscape after the AFL season is over is a complete dead duck. Just like his company is now.
 
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Redford said:
Bought into too many other fringe enterprises too quickly, overpaying hosts that aren’t driving the ratings (eg that knob Whateley) and ultimately, struggling for meaningful content. The Australian sporting landscape after the AFL season is over is a complete dead duck. Just like his company is now.
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It's got to be the worse sporting station to listen to.
Bias
Click bait
Boring
And commercials over load
 
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Little Ziggyadee said:
It's got to be the worse sporting station to listen to.
Bias
Click bait
Boring
And commercials over load
Click to expand...
The commercial overload is the worst part. 45% of their air time is ads. Infuriating. The second worst part is contrived sensationalists like Corn.

I listen to it less than I ever have and I completely switch off altogether when the AFL season is done.

Actually, that’s not true. I switched it on about 4 weeks ago only to get a 10 minute interview with some chick who plays basketball for the Bendigo whatevers in the NBLW.
 
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seven said:

Media mogul’s empire slips further towards the brink​

"
Media mogul Craig Hutchison’s empire has taken another hit with reports claiming new investors are desperately needed to save the radio giant.
Hutchison in September shrugged off ongoing suggestions of doom and gloom surrounding the Sports Entertainment Group, the owner of the SEN radio network.

Hutchison and the group is reportedly at the mercy of the Commonwealth Bank, with the financial institution in a position to call for immediate settlement as a result of breached loan conditions.

The uncertainty surrounding the $28.7m line of credit comes after it emerged the company posted a $9.2m loss last financial year.

Sports Entertainment Group’s preliminary final report stated that the company has just over $1 million available from the loan, but had to ask for “covenant relief” from the bank in the June quarter.

The Age has now revealed the network’s future has slipped further into uncertainty with a director’s note in its annual report, released in late October, declaring its status to be “material uncertainty” with significant doubts about its ability to continue to operate.

The pressure is building on the executive to find answers with the majority of its debt due in August, 2024.

Because of that deadline, SEG is seeking new investors, diluting Hutchison’s position as the company’s second-largest shareholder.
Click to expand...
leonardo dicaprio GIF
 
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I wouldn't know where SEN is on the radio dial.

24/7 sports radio? Yeah, not enough going on in Aus to support that really.

They would be filling hours with dross, and everything I read here indicates that is the case.

DS
 
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seven said:

Media mogul’s empire slips further towards the brink​

"
Media mogul Craig Hutchison’s empire has taken another hit with reports claiming new investors are desperately needed to save the radio giant.
Hutchison in September shrugged off ongoing suggestions of doom and gloom surrounding the Sports Entertainment Group, the owner of the SEN radio network.

Hutchison and the group is reportedly at the mercy of the Commonwealth Bank, with the financial institution in a position to call for immediate settlement as a result of breached loan conditions.

The uncertainty surrounding the $28.7m line of credit comes after it emerged the company posted a $9.2m loss last financial year.

Sports Entertainment Group’s preliminary final report stated that the company has just over $1 million available from the loan, but had to ask for “covenant relief” from the bank in the June quarter.

The Age has now revealed the network’s future has slipped further into uncertainty with a director’s note in its annual report, released in late October, declaring its status to be “material uncertainty” with significant doubts about its ability to continue to operate.

The pressure is building on the executive to find answers with the majority of its debt due in August, 2024.

Because of that deadline, SEG is seeking new investors, diluting Hutchison’s position as the company’s second-largest shareholder.
Click to expand...

Hutchy will be fine, because he........"has a growing suite of assets, including SEN Radio, a TV production company, the Perth Wildcats and headline talent including Gerard Whateley, Kane Cornes, Matty Johns and more."

www.smh.com.au

Craig Hutchison’s sports and media empire on the ropes as directors, auditor sound alarm

There are fears that the group - which has assets including SEN Radio and the Perth Wildcats - will struggle to survive if it does not find new investors in the next nine months.
www.smh.com.au www.smh.com.au
 
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Won't be watching Channel 9 anymore now - Tom Morris appointed chief football reporter.
 
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Read the article, he is making the usual business mistake equating higher turnover with financial success.
Losses are losses are losses.
 
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Seems like he had some early success, thought he was a business god, and then expanded into non-core businesses.

Totally ego-driven.

Paying himself $500k bonuses doesn't help the bottom line much when you aren't making a profit.

Looking for investors hey? Who would be foolish enough to throw one dollar towards them.
 
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Puntrd64 said:
Read the article, he is making the usual business mistake equating higher turnover with financial success.
Losses are losses are losses.
Click to expand...
He might have been attempting to go down the U.S tech business path and thought that through perpetually expansion his empire would eventually be worth a boat load of cash merely due to its size and market saturation.

Others have also confused their business models with that of digital products, and have failed due to the costs of running their business and to acquire new customers didn't match their revenue and or profits.
 
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Little Ziggyadee said:
What happened to Junior McGuire??
Click to expand...
Beware what you ask for zips;)

"It is a bold move by Nine and throws down the gauntlet to Channel 7 who have lost their chief football reporter Tom Browne with Mitch Cleary taking over the role.

Cleary is being joined by Adelaide sports reporter Theo Doropoulos in the Melbourne newsroom while Morris will head a revamped Nine team which also includes rising star Xander McGuire, the son of former Collingwood president Eddie McGuire."
 
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tiger76 said:
He might have been attempting to go down the U.S tech business path and thought that through perpetually expansion his empire would eventually be worth a boat load of cash merely due to its size and market saturation.

Others have also confused their business models with that of digital products, and have failed due to the costs of running their business and to acquire new customers didn't match their revenue and or profits.
Click to expand...
No one has free cash to bail him out.
He will run it to it is closed by administrators.
He has always tried American ways and ideas towards Australian sport broadcasting.
It was never going to work.
 
BluesBloke said:
All the nepo babies will be looked after mate - rest assured!
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Yep.
Not bad if you can get it. 100k+ a year talking about footy for 3 minutes 5 days a week.
*How many other kids have done 5 years of journalism at Uni and been knocked back by channel 9??
 
Little Ziggyadee said:
Yep.
Not bad if you can get it. 100k+ a year talking about footy for 3 minutes 5 days a week.
*How many other kids have done 5 years of journalism at Uni and been knocked back by channel 9??
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5 years of journalism? Not in this day and age Zips. You're thinking 25 years ago when journalism was a profession.

Nowadays just get yourself a Twitter account, claim that you have 'inside info' and boom suddenly you're an AFL accredited journalist.
 
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Little Ziggyadee said:
Yep.
Not bad if you can get it. 100k+ a year talking about footy for 3 minutes 5 days a week.
*How many other kids have done 5 years of journalism at Uni and been knocked back by channel 9??
Click to expand...
You'll find the purest talents of the craft are likely working their backsides off for a break - any break - while working a menial job to pay the bills (nothing wrong with that), but becoming increasingly disenfranchised with an industry that rewards nepotism, shortcuts and socioeconomic background.

People say 'But Morris is better than most at his job' - is he really, though? Or has he just been given better opportunities than most to excel in life?
 
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