Skip to main content

The Feed

Nine to acquire remaining Macquarie stake

By Media release - Nine Entertainment

12 August 2019 1min read

Nine Entertainment Macquarie Media

By Media release - Nine Entertainment

12 August 2019 1min read

Nine has made an offer of $1.46 per share in a bid to acquire the remaining 45 per cent of Macquarie Media. 

Nine inherited the majority shareholding in Macquarie Media following its merger with Fairfax.

“We are big believers in the power of Macquarie’s talk radio network and in its people,  a team who together drive debate and speak up so often for so many Australians," said Nine CEO Hugh Marks. "We look forward to the future growth of the business with the full backing of Nine and to ensuring that the Macquarie Radio team have the support, infrastructure and clarity to be able to do what they do best."

The offer values Macquarie Media at $275.4 million and will see Nine pay $113.9 million (at $1.46 per share) for the remaining 45.5 per cent stake in the leading talk radio business, which owns stations 2GB, 3AW, 4BC, 6PR and Macquarie Sports Radio, provided enough shareholders accept the offer to lift Nine to 90 per cent and the company can then acquire the remainder.  

Nine said it expects the acquisition would create $10 million in cost savings, mainly from back office functions. Subject to sufficient Macquarie Media shareholder acceptances, the transaction is due to complete by December 2019.

Let’s go. What do you think?

By Media release - Nine Entertainment

12 August 2019 1min read

Market Voice

19 August 2019 3min read

It’s weird: streaming services are boosting demand for cinema’s big screens

Subscription video services are capturing more consumer attention and revenue, putting ad-funded TV networks under pressure.

Go deeper 3min read

Guy Burbidge, Managing Director

Val Morgan Cinema

16 August 2019 3min read

Why media company activism is risky but crucial in driving culture change for Australian women

Bauer CEO Brendon Hill says the activist agenda Bauer is taking on for women - from the "Tampon Tax" to "Financially Fit Females" and "Financial Elder Abuse" initiatives - is galvinising the company and proving a powerful force for driving change for women.  

Go deeper 3min read

Brendon Hill

CEO - Bauer Media