Nine nails 90 per cent stake in Macquarie Media
Nine has attained a 90 per cent stake in radio broadcaster Macquarie Media, meaning it can move to compulsorily acquire the remaining shares on issue.
“We believe strongly in the power of the talk-radio network and the ability, dedication and professionalism of its people," said Hugh Marks, CEO of Nine.
"Every day this team talk to and for the people of the communities they serve – pointing out wrongs, recognising the achievements and contributions of others, informing Australians and often leading the debate on issues of real importance to their audience."
He said it would be "business as usual" for the Macquarie team, with Nine supporting them to "do what they do best."
The transaction is due to close by the year end.