December 22, 2014
Macquarie Radio Network announced today they intend to merge with Fairfax Media Limited in a deal which will lead to a change in ownership for Kingaroy-based 4SB (1071 AM).
The proposed merger would bring together Australia’s two top-rating talk stations, 2GB in Sydney and 3AW in Melbourne, but due to regulatory requirements it will also mean the the sale of the Macquarie Regional Radio Network, which includes 4SB.
The Macquarie Regional Radio Network is a fully owned subsidiary of Macquarie Radio Network (MRN).
Brad Smart sold his regional radio network to MRN in August 2011 for $6 million. The sale included 4SB as well as stations at Mt Isa, Emerald, Charleville, St George, Roma and Goondiwindi.
In a statement to the ASX this morning, Macquarie Radio Network said it would seek to divest itself of 2CH in Sydney and the Macquarie Regional Radio Network.
The proposed merger is subject to a number of terms and conditions.