Craig Hutchison’s media empire has expanded again, after his company Crocmedia bought out the AFL Record for $8.1million.
The sports media company made the announcement this morning with the purchase also including the licensing of all trademarks.
“The AFL Record is one of the oldest magazines in Australia so it’s a great privilege to become its custodian into the future,” Hutchison said in a media statement.
“We have aspirations to grow the Record’s reach while honouring its iconic past.”
It is believed that the deal will be paid in $5.85m cash and $2.25m in prepaid advertising sales that will go to the AFL.
The footy record will be produced by AFL Media up until the end of this season, however, Crocmedia will be entitled to the profits of the iconic magazine from round nine of this year.