Nine Entertainment has decided to offload its radio broadcasting assets, including the highly popular talkback stations 2GB and 3AW, selling them to Australian publican Arthur Laundy and his family for a sum of $56 million.
This transaction, encompassing stations such as 2GB, 3AW, 4BC, 6PR, 2UE, Magic1278, and 4BH, was revealed to shareholders this morning. It comes as part of a strategic shift by the media conglomerate, which also involves acquiring the outdoor media platform QMS Media for $850 million.
The company, which is the publisher of this website, informed shareholders that the handover to the Laundy Family Office is anticipated to conclude by the end of June this year. Despite the sale, Nine will maintain a long-term partnership with these radio stations.
The announcement specified that Laundy plans to sustain a lasting partnership with Nine, intending to leverage Nine News journalists on radio, highlight Stan Sport across Laundy venues, collaborate on promotion and advertising sales, and boost advertising investments on Nine’s platforms.
At the same time, Nine disclosed its acquisition of the leading digital outdoor media platform, QMS Media, while transitioning regional TV station NBN (Northern NSW) from a fully-owned entity to an affiliate under the management of Nine’s regional collaborator, WIN Network.
According to Nine Group’s CEO, Matt Stanton, these moves strategically position the company for future success.
“Today’s announcements mark a critical milestone in our Nine2028 transformation. These transactions will create a more efficient, higher-growth, and digitally powered Nine Group for our consumers, advertisers, shareholders and people,” he said.
“This positions Nine well for the future, enabling the group to withstand industry disruption and deliver long-term sustainable value to our shareholders.”
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