TAB New Zealand is set to acquire the Raceform brand and magazine publication (Raceform) from Raceform Publications Limited.
The agreement will see TAB NZ take ownership of Raceform, which distributes a weekly magazine providing previews, news, opinions, fields and tips on New Zealand thoroughbred and New Zealand harness racing, as well as coverage of major Australian metropolitan thoroughbred meetings. The transaction is expected to complete at the end of the month.
TAB NZ will be taking up a business with a strong retail presence and loyal set of subscribers.
“This agreement secures another strategic media asset, which preserves magazine format racing coverage in New Zealand and provides a clear pathway to digitisation,” TAB NZ CEO Nick Roberts said.
“Raceform is synonymous with racing lovers across New Zealand, and Dennis Ryan and Don Hancock can be proud of the lasting legacy they have built for the New Zealand racing industry. This weekly publication gives punters exceptional coverage and insights on the racing events of the week. We are pleased to carry on this legacy and add this publication to our stable of media assets that support the coverage of racing in New Zealand.”
Raceform Editor Dennis Ryan expressed his satisfaction that through the TAB NZ acquisition, Raceform’s future is assured in filling a much-needed place on the racing media landscape.
“Don Hancock and I joined forces in mid-2019 and with industry support, achieved our goal to produce a weekly publication that we could be proud of,” Ryan said.
“Raceform already has a loyal readership, however a platform will exist which will enable it to go to another level. We look forward to seeing Raceform establish an even greater presence in New Zealand racing.”
TAB NZ intends to progress discussions with Entain New Zealand, the operator of TAB, betcha, Trackside and SENZ, with a view to Entain taking on the management of the Raceform business as part of the existing Strategic Partnering Agreement.
Entain Australia & New Zealand Chief Media Officer Christopher Haigh congratulated TAB NZ on its decision to take ownership of Raceform and noted that Entain would work constructively in supporting TAB NZ on the transaction.
“The Raceform team have built a loyal following with this publication, and we look forward to working with TAB NZ to see the Raceform business reach its full potential as part of our integrated media offering,” Haigh said.
