Nine has sold its radio business – stations 2GB in Sydney, 3AW in Melbourne, 6PR in Perth and 4BC in Brisbane – to billionaire hotel baron Arthur Laundy, in a $56 million deal.
Nine CEO Matt Stanton made the announcement this morning before the ASX opened.
“Today’s announcements mark a critical milestone in our Nine2028 transformation,” Stanton said.
“These transactions will create a more efficient, higher-growth, and digitally powered Nine Group for our consumers, advertisers, shareholders and people. This positions Nine well for the future, enabling the Group to withstand industry disruption and deliver long-term sustainable value to our shareholders.”
Speaking on an investor call regarding the deal, Stanton addressed questions regarding potential “dis-synergies” arising from the acquisition.
“We don’t see any material dis-synergies at all from this,” Stanton told investors. “The reality is in the ad market, scale is really important. Dealing with a big four or five agencies is crucial [to] having a voice, and this is very strong.”
Stanton highlighted the strategic trade-off of exiting the radio market to fund the QMS purchase.
“Radio comes out, and this comes in, which is a high-growth asset that we’re getting, and it’s very agency-focused,” he explained.
The Australian reports that Nine staff have been invited to a series of meetings today, regarding further details of sale and its impact on them.
The sale is expected to be finalised by June 30 2026.
Nine’s radio deal months in the making
Today’s announcement comes after Nine spent the past month assessing bids, after it was put up for sale last September.
According to the Australian Financial Review, a consortium led by John Singleton was believed to have a bid for the network, as did Craig Hutchison’s Sports Entertainment Group and Australian Digital Holdings.
Earlier this week, The Australian reported that Hutchison had been a favourite to be the successful bidder.
Nine’s radio boss Tom Malone.
Impact of Nine’s radio deal on the ASX
All eyes are on The Nine Entertainment Co. Holdings Ltd (ASX: NEC) share price this morning.
In an official statement, Nine revealed that the deals are “a strategic repositioning of its asset portfolio to drive long-term shareholder value.”
“[The deal] represents a step change in Nine’s asset portfolio, with digital growth businesses expected to account for more than 60% of revenue from FY27 (from c45% in FY25).”
The statement further said, “The reshaped portfolio meaningfully enhances Nine’s offering to advertisers as a unique cross-platform digital media proposition, combining Nine’s premium assets in Streaming and Broadcast, and Publishing with QMS’s leading outdoor assets.”‘Most valuable asset’
Nine’s managing director of radio, Tom Malone, told staff that the sale to the Laundy family makes them all a “most valuable asset.”
Malone said in a statement, “This is a great outcome for the Radio business and for our people. The Laundy family value their staff as their most valuable asset, and we will be no different.”
He further reassured staff, “During the sale process, which attracted strong interest from several parties, the Laundy family was a standout. Matt [Stanton] and I have had lengthy discussions with the family, led by Craig Laundy.
“Craig will be familiar to many of you. As well as being a former Federal MP, he’s been a regular guest on our programs. Many of you at 2GB in particular have met Craig, his father Arthur, and other members of the Laundy family.”
Media Week can report that in an investor call this morning, Stanton said:
“This has happened over some period of time…We’ve just been working at our pace on it in a very good way with Quadrant, and we’re very pleased with the process we went through, and the value that we’ve got.”
Nine’s purchase of QMS
Nine has also acquired QMS for $850 million, and converted the regional station NBN to an affiliate, owned and operated by Nine’s regional partner, Win.
“The QMS network will provide Nine with a branded platform to support key national news and sporting moments and serve as a public service utility for governments at all levels in times of emergency or community need. We are excited about the potential in this space,” Stanton said.
“QMS is a highly complementary media platform, offering Nine the opportunity to drive significant value by leveraging our premium content on QMS screens and creating an unparalleled advertising proposition that spans from ‘Sofa to Street’.”
Nine CEO Matt Stanton
Who is billionaire Arthur Laundy?
The 84-year-old owns more than 90 pubs and hotels in Australia, including the iconic properties Sydney’s Watsons Bay Hotel, the Sheraton Mirage on the Gold Coast and the Sofitel Noosa.
Laundy is worth in excess of $1.6bn, making him one of the country’s wealthiest people. He received an Order of Australia in 2004.