Pacific Star Network pauses trading on the ASX

Pacific Star Network has stopped trading on the ASX until further notice, an in order to make a statement regarding the effect that COVID-19 is having on its business.

The company has interests in broadcasting and publishing, most notably through Crocmedia and 1116 SEN.
With a primary focus on sports, the cancellation of a number of major sporting events, and the uncertainty around the AFL and NRL seasons could leave the network with nothing to cover.
Crocmedia had also come to an arrangement to broadcast at the Tokyo Olympics through the SEN radio network, an event that is also in jeopardy.
Only recently CEO of Crocmedia, Craig Hutchison, revealed that he was in talks with Racing Victoria for rights to launch a dedicated racing radio station.

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