The nation’s biggest media company, Nine Entertainment, has sold its talkback radio stations to a Sydney pub baron for $56m and bought outdoor advertising company QMS Media for $850m, in a major upheaval for Australia’s media landscape.
Nine Radio, which owns 2GB, 3AW, 4BC, 6PR, 2UE, Magic1278 and 4BH, has been offloaded as talk radio profits dwindle and the audience skews ever older.
In a surprise move, the network was bought by billionaire Sydney publican Arthur Laundy, 85, who inherited two pubs in 1969 and grew them into a group of 40 venues worth $1.75bn according to the AFR’s 2025 Rich List.
Nine has also converted its wholly-owned regional television station NBN in northern NSW to an affiliate station.
QMS is an outdoor advertising company with a national network of digital billboards, in locations such as Sydney bus stops.
Nine’s restructure comes after the company sold its stake in real estate portal Domain for $1.4bn.
“Today’s announcements mark a critical milestone in our Nine2028 transformation,” Nine chief executive officer Matt 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.”
Nine is the publisher of the Australian Financial Review, the Sydney Morning Herald and the Age and the owner of Channel Nine.
More details soon…
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