Nine kills radio star, switching stations for hard ads

Adrian Black and Callum Godde | January 30, 2026

One of the nation’s biggest media companies will sell its radio assets to a pub baron at a fraction of what it paid as it looks to expand its physical advertising reach.

Nine Entertainment flagged the $56 million deal to sell off stations including 2GB Sydney, 3AW Melbourne, 4BC Brisbane, 6PR Perth and 2UE Adelaide in a statement to the share market on Friday morning.

Nine inherited a controlling stake in what was known as Macquarie radio when it merged with Fairfax in 2018, before paying its remaining owners $113.9 million for the rest. 

Nine accepted the bid by Sydney-based pub baron Arthur Laundy and his family, confirming in September “a number of unsolicited inquiries about our radio business”.

In addition, the media giant announced a $850 million deal to buy outdoor advertising company QMS and the conversion of NBN Television to an affiliate to be owned and operated by regional partner WIN.

The shift in tact came amid declining radio revenues, which peaked in 2007 and had been falling since, according to the University of Melbourne’s Centre for Advancing Journalism’s Denis Muller.

“Just five or six years ago they were still valued at over $200 million and here we are, where they’re being sold for $56 million,” Dr Muller told AAP.

But the agenda-setting talkback radio stations still packed enough political punch to have influence in Canberra.

“They are politically really quite relevant, because they’ve still got pretty large audiences, who skew older and they’re terribly loyal,” Dr Muller said.

“And many live in great swathes, especially in western Sydney, where there are still a lot of key marginal seats.”

The sale is expected to go through by mid-2026, subject to approval by the Australian Competition and Consumer Commission.

The moves marked a “critical milestone” in Nine’s ongoing transformation, 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,” he said.

The QMS acquisition from Quadrant Private Equity would diversify Nine’s revenue streams and scale its advertiser and agency relationships, Mr Stanton said.

Nine will announce its first-half result for the financial year on February 24.

Investors welcomed the deal, with Nine’s share price up more than 3 per cent on Friday afternoon, but still trading at a 20 per cent discount to 12 months earlier.

Despite radio losing market share to its digital streaming equivalents in recent years, the Laundy family was clear about plans to expand its reach.

“The Laundy family is backing management and all employees to work with us over the coming years to grow this business,” they wrote in a statement to Nine staff.

“We want you to help us continue the important role the stations play in the life of every-day Australians.”

Radio remained a crucial part of Australia’s media landscape, particularly for emergency broadcasting, RMIT journalism professor Alexandra Wake said.

“Talkback radio is a really powerful way of communicating with people, for those who are stuck at home for any reason, whether they’re older or because they’ve got young kids,” Prof Wake told AAP.

“Video didn’t kill the radio star and I don’t think that the internet, or digital, will completely kill it either.”