<article>Australia-listed Melbourne-based media company <a style="color: #000000;" href="https://www.dealstreetasia.com/?s=Pacific%20Star Network">Pacific Star Networ</a>k (PNW) said Monday that it has agreed to merge with sports content and entertainment firm <a style="color: #000000;" href="https://www.dealstreetasia.com/?s=Crocmedia">Crocmedia</a>.</article>

Australia-listed Melbourne-based media company <a style="color: #000000;" href="https://www.dealstreetasia.com/?s=Pacific%20Star Network">Pacific Star Networ</a>k (PNW) said Monday that it has agreed to merge with sports content and entertainment firm <a style="color: #000000;" href="https://www.dealstreetasia.com/?s=Crocmedia">Crocmedia</a>.
In a disclosure to the Australian Stock Exchange, PNW announced that it will acquire 100 percent of the equity in Crocmedia in exchange for 91.6 million PNW shares. The merger is based on a like-for-like valuation of PNW and Crocmedia.
&#8220;The merger will create a leading sports content and entertainment business of scale with complementary services across multiple media platforms, providing a clear point of differentiation and an attractive platform for growth,&#8221; PNW said in a statement.
The merged businesses would be helmed by Crocmedia co-founder and CEO Craig Hutchison but would require the approval of PNW shareholders.
Crocmedia has six complementary business units encompassing the sport and entertainment industries, namely branded content (Crocmedia), talent management (Bravo), events (BallPark Entertainment), events and activation (E&amp;A), creative services (Thread), and racing media sales (Raceforce Media).
Crocmedia is also a leading independent producer and syndicator of sport radio content in Australia, having secured radio broadcasting rights with Australia&#8217;s premier sporting codes, the Australian Football League and the Football Federation Australia &#8211; Hyundai A-League.
PNW, meanwhile, operates through two segments &#8211; broadcasting and publishing. It operates three digital only radio stations &#8211; AUSSIE, KOOL, and Rythmos &#8211; and also broadcasts 1116 SEN.
The merger of the two media firms will create a leading sports content and entertainment business capable of delivering brand stories to national, metropolitan, and regional audiences with unique and exclusive content delivered via multiple platforms &#8211; radio, TV, online, in-stadium, events, and print, according to the merger rationale.
&#8220;To join forces as one company with a single vision of a fully integrated sports content and entertainment business is incredibly exciting,&#8221; Hutchison said.
The proposed merger is expected to be completed in March of this year, subject to PNW shareholder approval.
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Melbourne-based media company Pacific Star Network (PNW) said Monday that it has agreed to merge with sports content and entertainment firm Crocmedia.

Australia: Pacific Star Network to merge with sports content firm Crocmedia

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Australia: Pacific Star Network to merge with sports content firm Crocmedia

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