Sports Entertainment Group Limited has announced that it has entered into a binding agreement to acquire 100% of New Zealand audio business MediaWorks, for an enterprise value of NZ$130 million. The acquisition creates a trans-Tasman audio, digital and entertainment group reaching more than 5 million listeners each week across Australia and New Zealand. The business also operates rova, its proprietary digital audio platform for live radio, podcasts and on-demand content. The existing MediaWorks management team, led by Chief Executive Officer Wendy Palmer, will continue to lead the New Zealand business. “MediaWorks is New Zealand’s number one audio business, third biggest media business, and has an incredible connection with its market leading audio audience.”