News Corp Australia Confirms Punters.com.au Acquisition
Media news giant, New Corp Australia, has confirmed the acquisition of major Australian digital racing publisher, Punters.com.au. Through this deal, News Corp is expanding its commitment to racing in the country.
The terms of the agreement have not been disclosed and neither has the acquisition sum; however Michael Miller, executive chairman of News Corp Australasia, said that this deal will allow the media giant to extend its reach to a new generation of punters and racing fans.
“Punters.com.au is already the country’s leading digital form guide with a rich content offering and hosting an active social community,” said Miller. “This partnership with Punters.com.au will allow us to take its tools, tips and news to a wider audience.”
“We have a long and rich history with Australia’s racing, sports and wagering industries. The acquisition of Punters.com.au deepens News Corp’s commitment to Australia’s $6 billion horse racing industry and provides our 16 million monthly audience with an even more complete and integrated fan experience.”
Punters.com.au sees more than 375,000 visitors per month and its 2016 financial outlook expects it to generate revenue of £3.4 million and a profit margin of close to 55%. Following the completion of the acquisition, Punters.com.au founder and chief executive, Luc Pettett, as well as their chief operating officer, Heath Kilgour, will maintain their positions.
“When we started Punters.com.au eight years ago, we set out to challenge how horeseracing was being represented, while respecting its history and traditions,” stated Pettett. “With our dynamic young team, we’ve pushed the boundaries and created a product that is unlike any other in the Australian horseracing landscape. This won’t change and I’m so excited to start a new chapter with News Corp.”
March 23, 2017