Nine Entertainment has completed the sale of its prominent radio stations, including 2GB and 3AW. The buyer is Arthur Laundy, a billionaire known for his extensive interests in the pub and hospitality industry. The deal marks a significant shift in ownership within Australia’s radio broadcasting sector.
The acquisition adds a major media asset to Laundy’s portfolio, expanding his influence beyond hospitality. Nine’s decision to sell its radio division reflects a strategic move to focus on other areas of its business.
**Why this matters**
The sale transfers control of some of Australia’s most influential talk radio stations to a new owner with a different industry background. This could impact the future direction and management of these stations. It also highlights ongoing consolidation and changes within the Australian media landscape.
Source: News Source