Crocmedia and Pacific Star Network merger under “due diligence”

The Melbourne radio landscape is in for another shake-up, this time with the proposed merger of Pacific Star Network and Crocmedia.

Pacific Star Network is the owner and operator of sports radio station 1116 SEN and there had been speculation it was to be sold off the back of some poor financial results.

New rumours began circulating more than a week ago that a sale was no longer on the cards and that Crocmedia was making overtures.

It turns out that rumour was pretty spot on. Radio Today understands both companies have agreed to undertake ‘due diligence’ over the next 30 days with a view to entering a legally binding agreement.

Reps for Pacific Star Network and Crocmedia have been contacted for comment.

The merged businesses would be helmed by Crocmedia CEO Craig Hutchison but would require the approval of Pacific Star shareholders.

The merger could have major ramifications for 1116 SEN programming.

Hutchison currently co-hosts the Saturday morning show Off The Bench with Liam Pickering and Dr Turf (John Rothfield).

With the merger now more than just industry gossip, there’s now talk Off The Bench could take over the breakfast slot currently filled by Gary Lyon and Tim Watson.

That show has been ‘solid’ in the survey books but has yet to reach the 4-share target.  The time may be right for a change.

At this stage, Hutchison is making no comment and others within the Crocmedia organisation are staying tight-lipped.  But Hutchison has indicated he could have something to say in in next week’s instalment of The Sounding Board podcast.

Watch this space.