The agreement includes the Senz brand, website and app, along with the 28 radio stations (across 29 frequencies), digital and audio content creation teams, and audio rights to several sports including cricket, netball, rugby league and Premier League football.
The transaction is expected to be completed in February next year.
Otago Nuggets general manager Angela Ruske said the Nuggets and the Southern Hoiho, who are owned by Senz, are not included in the deal .
Sports Entertainment Group acquired the radio frequencies that were previously used by Radio Trackside in April 2021, and has since invested considerably by refurbishing broadcasting studios, acquiring sporting rights outside of racing, building a digital content team and investing in a sizable local radio content team.
TAB New Zealand will be taking up a business with net assets of more than $2million along with the frequencies they previously owned.
"This agreement secures a strategic asset, which preserves racing and sports coverage in New Zealand," TAB interim chairwoman Anna Stove said.
It was acquiring a "much-improved asset on top of the frequencies originally sold to SEG", Stove said.
