ACE Radio to purchase 1377AM Melbourne from Pacific Star
Craig Hutchison’s Pacific Star Network has offloaded 1377AM Melbourne to Regional broadcaster ACE Radio Network for an undisclosed sum.
ACE confirmed the deal includes an associated DAB+ spectrum in Melbourne.
“The addition of a Melbourne radio station to the ACE Radio network is a positive move for the growth and future of our company,” ACE chief executive Mark Taylor said in a statement.
“There will be exciting opportunities offered to our existing staff to be a part of this new Melbourne radio station.
“The acquisition of an extra radio station and the additional advertising revenue will help ACE Radio’s recovery from the COVID-19 crisis now and into the future.”
Taylor also said the network will share more details on the name, format direction and commencement date of the new AM and Stereo DAB+ Melbourne radio station in the near future.
The independent radio operator confirmed the acquisition after SEN announced today that it has purchased 2CH Sydney and three narrowcast license for its SENtrack network.
The purchase of 2CH and three narrowcast licences will set Pacific Star back by around $11.2 million cash, and EON – owners of 2CH – will receive 10 million shares in Pacific Star.