Radio 1116 SEN 2024 Line-up

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peternorth said:
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Craig Hutchison cuts staff from SEN radio amid Super Bowl broadcast​

Stephen Drill and Ben Butler, February 15, 2024 - 12:28PM

Radio producers were made redundant this week at SEN’s Melbourne studio as the company cuts cost to manage its $28.7 million debt with the Commonwealth Bank. A small number of staff have left the company but on-air programming was not part of the cuts.

It comes as Sports and Entertainment Group, which owns radio station SEN and a clutch of sports teams, raises money as the deadline to pay back the CBA approaches. SEG aims to raise $2.2m by selling a 3.9 per cent share of itself, receiving a first payment of $800,000 on Wednesday with the rest due on April Fools’ Day. Earlier this month, it reaped $1.5 million by selling a 3.75 per cent share of its sports teams, which include the Perth Wildcats and three other basketball teams, to investors including Hutchison’s friend and SEN radio presenter David “The Chief” Alcaro.

The company also made $1.5m by selling shares in itself in the last three months of 2023. As of the end of December the company had drawn down all but $1.25 of the $28.7m loan from the CBA, which is due to be repaid on August 31. SEG is “currently in negotiation regarding the extension of terms,” it told the ASX on January 31.

Hutchison’s company has breached its banking covenants, meaning the CBA could call the loan in at any time because its debt to value ratio was too high. It had $5 million cash at hand at the end of December, it told the exchange. Revenue was $42.6 million in the December quarter, with “net operating cash inflows of $2.6 million.” Hutchison declined to comment.
 
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Registered User said:

Craig Hutchison cuts staff from SEN radio amid Super Bowl broadcast​

Stephen Drill and Ben Butler, February 15, 2024 - 12:28PM

'Radio producers were made redundant this week at SEN’s Melbourne studio as the company cuts cost to manage its $28.7 million debt with the Commonwealth Bank. A small number of staff have left the company but on-air programming was not part of the cuts.

It comes as Sports and Entertainment Group, which owns radio station SEN and a clutch of sports teams, raises money as the deadline to pay back the CBA approaches. SEG aims to raise $2.2m by selling a 3.9 per cent share of itself, receiving a first payment of $800,000 on Wednesday with the rest due on April Fools’ Day. Earlier this month, it reaped $1.5 million by selling a 3.75 per cent share of its sports teams, which include the Perth Wildcats and three other basketball teams, to investors including Hutchison’s friend and SEN radio presenter David “The Chief” Alcaro.

The company also made $1.5m by selling shares in itself in the last three months of 2023. As of the end of December the company had drawn down all but $1.25 of the $28.7m loan from the CBA, which is due to be repaid on August 31. SEG is “currently in negotiation regarding the extension of terms,” it told the ASX on January 31.

Hutchison’s company has breached its banking covenants, meaning the CBA could call the loan in at any time because its debt to value ratio was too high. It had $5 million cash at hand at the end of December, it told the exchange. Revenue was $42.6 million in the December quarter, with “net operating cash inflows of $2.6 million.” Hutchison declined to comment.
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Ahhh beat me to it :)

Can’t wait to see what soft ball questions Hutchy’ll get from Pickers
 

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Registered User said:

Craig Hutchison cuts staff from SEN radio amid Super Bowl broadcast​

Stephen Drill and Ben Butler, February 15, 2024 - 12:28PM

Radio producers were made redundant this week at SEN’s Melbourne studio as the company cuts cost to manage its $28.7 million debt with the Commonwealth Bank. A small number of staff have left the company but on-air programming was not part of the cuts.

It comes as Sports and Entertainment Group, which owns radio station SEN and a clutch of sports teams, raises money as the deadline to pay back the CBA approaches. SEG aims to raise $2.2m by selling a 3.9 per cent share of itself, receiving a first payment of $800,000 on Wednesday with the rest due on April Fools’ Day. Earlier this month, it reaped $1.5 million by selling a 3.75 per cent share of its sports teams, which include the Perth Wildcats and three other basketball teams, to investors including Hutchison’s friend and SEN radio presenter David “The Chief” Alcaro.

The company also made $1.5m by selling shares in itself in the last three months of 2023. As of the end of December the company had drawn down all but $1.25 of the $28.7m loan from the CBA, which is due to be repaid on August 31. SEG is “currently in negotiation regarding the extension of terms,” it told the ASX on January 31.

Hutchison’s company has breached its banking covenants, meaning the CBA could call the loan in at any time because its debt to value ratio was too high. It had $5 million cash at hand at the end of December, it told the exchange. Revenue was $42.6 million in the December quarter, with “net operating cash inflows of $2.6 million.” Hutchison declined to comment.
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I warned a few mates who got gigs behind the scenes there to "always have your resume up to date".

The elephant in the room for SEN is where do they see an increase in revenue, in the near future?

They've got all the sports rights they can purchase. They've got the 'biggest names' in Australian Sports Talk that were available (and 'biggest names' is really a stretch). So, what do they have that can give them a significant, on-going increase in revenue?

I don't want to see people lose their jobs, but if Hutchy were to fail, I'd rather it happen fast, then get to a point where when the first owners of SEN had failed to pay staff and that dragged out for some time.
 
CrowdedHouse said:
I warned a few mates who got gigs behind the scenes there to "always have your resume up to date".

The elephant in the room for SEN is where do they see an increase in revenue, in the near future?

They've got all the sports rights they can purchase. They've got the 'biggest names' in Australian Sports Talk that were available (and 'biggest names' is really a stretch). So, what do they have that can give them a significant, on-going increase in revenue?

I don't want to see people lose their jobs, but if Hutchy were to fail, I'd rather it happen fast, then get to a point where when the first owners of SEN had failed to pay staff and that dragged out for some time.
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My guess would be the only products that make some profit are SEN Track and maybe Trade Radio for a few weeks a year.

I think everything else would be running at a loss, with some things like SEN Sydney losing a heap of money. Stations in SA, Tas and WA are fairly low cost so might just break even.

Outside that I think maybe the travel side of the business and talent management do okay. Corporates pay a lot to do things like the Superbowl and also gives Hutchy a chance to squeeze some advertising dollars.
 
Redline said:
My guess would be the only products that make some profit are SEN Track and maybe Trade Radio for a few weeks a year.

I think everything else would be running at a loss, with some things like SEN Sydney losing a heap of money. Stations in SA, Tas and WA are fairly low cost so might just break even.

Outside that I think maybe the travel side of the business and talent management do okay. Corporates pay a lot to do things like the Superbowl and also gives Hutchy a chance to squeeze some advertising dollars.
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Look I have no idea clearly but I think you're undervaluing how much money can be made from podcasts. A heap of the breakfast show segments, plus Whateley and a few other shows too do often have high traction in the podcast charts. It's a different country but companies don't have much issue staying afloat in the States from successful podcasts so I'd be interested to see what they're getting paid for advertising on theirs.
 
"Taylor Swift been to the MCG once and she has already dominated more times than Josh Jenkins'.

Taggart is entertaining on SEN track.
 

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SEN's coverage of the UFC is non-existent. I realise it isn't everyone's cup of tea, but it almost seems like they've taken a policy position on it.
 
offtherails9 said:
Look I have no idea clearly but I think you're undervaluing how much money can be made from podcasts. A heap of the breakfast show segments, plus Whateley and a few other shows too do often have high traction in the podcast charts. It's a different country but companies don't have much issue staying afloat in the States from successful podcasts so I'd be interested to see what they're getting paid for advertising on theirs.
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Maybe they do make more revenue than I think but live talk back radio is an expensive product to make.

FM stations make three hours of radio in say 30 minutes, sometimes do three days worth of shows in one.

Likewise live sport is expensive to produce especially now when they don't relay coverage like they used to.

You could be right the Podcasts could be making money it's just the station overall would be expensive to run.
 
bedford said:
Really it employs so many thousands in the industry and off shoots , the spring carnival brings so many people to the state and that's $'s
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I said it as a retort to your blunt post :)

I dislike horse racing intensely, but I don't want it banned like some people do, and I can understand why it gets covered on SEN. Actually, SEN Track helps keep more of it off the main station.

Two worst weeks of the sporting year for me - the week leading into the Melbourne Cup and the week before Superbowl zzzzzzzzzz
 
The Made Guy said:
I said it as a retort to your blunt post :)

I dislike horse racing intensely, but I don't want it banned like some people do, and I can understand why it gets covered on SEN. Actually, SEN Track helps keep more of it off the main station.

Two worst weeks of the sporting year for me - the week leading into the Melbourne Cup and the week before Superbowl zzzzzzzzzz
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Blunt ?
 
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