Last week it was reported that Australia’s largest privately owned radio group, Super Radio Network, has been put up for sale by George Caralis and Despina Priala, after what The Australian described as a breakdown in their working relationship.
The shareholder siblings are the children of network founder Bill Caralis, who died in 2024.
Today, Graham Mott, the new CEO of SRN, has clarified the situation.
In direct communication with Mediaweek, Mott confirmed, “SRN is not for sale.”
News of the purported sale came only days after Rhys Holleran exited the business – after just six months as Chief Executive Officer – reportedly following a dispute over staff cuts, leading Mott to take up the position.
It was also previously reported that SRN had appointed Dan Tepper of KPMG to oversee the sale process, but it has today been clarified they are only there for a valuation of assets.
Caralis and Priala took control of the network around 19 months ago after the deaths of their parents, founders Bill and Pam Caralis. They are both non-executive directors.
SRN employs around 200 people and operates more than 40 stations across New South Wales and Queensland, including key regional markets such as Newcastle, Bathurst, Tamworth, Dubbo, Taree, Lismore and Tweed Heads.
The sale of SRN would have represented one of the most significant opportunities in Australia’s radio sector in recent years, with potential buyers likely to be drawn to its scale, regional footprint and established talkback presence.
Main image: Despina Priala and George Caralis, and Graham Mott