Alan Jones’ absence fails to dent Macquarie Media profits
Macquarie Media Limited has today posted a 21% net profit boost helped on by a $3.5 million saving on temporarily revoked license fees.
In January 2017, the Turnbull government announced a one-off removal of license fees for commercial free-to-air television and radio broadcasters for the then-current financial year.
The move was worth a reported $127 million to the industry.
Despite Alan Jones’ four-month absence from 2GB and the launch of Talking Lifestyle, Macquarie Media has managed to maintain strong revenue standards.
Total revenue for Macquarie Media reached $131.114 million for the 2017 financial year, a 2% drop on the previous. EBITDA was $29.450 million, rising 17% year-on-year.
MML, which owns 2GB, 3AW,4BC and 6PR, drew profits that doubled the combined earnings of Fairfax Radio Network and Macquarie Radio Network, prior to the merger of the networks in 2015.