Matter Summary

Maddocks advised the Victorian Racing Industry on the strategic sale of its long-held broadcasting asset, RSN (formerly Radio 3UZ).

Sold to

ASX-listed Sports Entertainment Group (SEN).

Radio 3UZ, a Melbourne broadcasting institution for over a century, was acquired by the thoroughbred, harness, and greyhound racing codes in 1986. The transaction involved the sale of the 3UZ licence and assets to SEN, alongside the establishment of a long-term broadcast servicing partnership between SEN and the racing codes.

Maddocks played a pivotal role in reconstructing the corporate memory of RSN, which had diminished over time due to the declining profile of the station and the resulting internal knowledge gaps. Maddocks’ longstanding relationship with Racing Victoria, particularly through Partner Ron Smooker, who has advised on corporate and media matters for Racing Victoria (including 3UZ) since 2001, the firm was uniquely positioned to navigate the transaction’s commercial, political, and regulatory complexities.

The team addressed issues spanning competition law, intellectual property, and broadcasting regulations. A key innovation was the drafting of a detailed Broadcast Servicing Deed, which, by setting out in detail the expectations of each of the parties, enabled a traditional asset sale to be reimagined as an outsourcing of the industry’s broadcasting function. This creative legal structure ensured continuity for the racing codes while modernising their media strategy.

Maddocks’ deep industry knowledge and cross-disciplinary collaboration were instrumental in securing a future for this culturally significant asset.

The Maddocks team was led by Special Counsel Jacqui Picone and Senior Associate Oliver Wahlstrom, with support from Commercial Partners Ron Smooker and Rob Gregory, and Senior Associate Maddison Reznick, and Lawyers Lucy MacLachlan, and Jess Abrahams. The team also drew on expertise from the firm’s Tax, Property, and Employment, Safety and People teams.