Could Nine be close to selling its radio assets?

Nine Entertainment could offload its radio network before Christmas, if the latest media speculation is anything to go by.

A report in The Australian (subscription required) suggests there are several high-profile bidders who are interested in buying its stable of talkback stations and are set to make formal offers in the coming weeks.

Nine’s radio division includes Sydney’s 2GB, Melbourne’s 3AW, Brisbane’s 4BC and 6PR in Perth.

The report says that while industry speculation has been swirling for the past year, the media company has declined to publicly acknowledge plans to shed its audio arm before finalising the $2.8bn sale of its real estate business Domain to US property giant CoStar, on which company shareholders will vote today.

Once the Domain sale is finalised, Nine will reportedly look at offers for its radio division.

Earlier this year, ARN Media Chairman Hamish McLennan publicly flagged interest in buying Nine’s network of talkback radio stations, but said current media ownership laws precluded the company from doing so.

In February came the news that multi-millionaire entrepreneur John Singleton reportedly also had Nine Radio in his sights.

Singleton bought the then-struggling 2GB back in 1996, turning it into Sydney’s #1 talkback station.

Whilst Singleton told The Australian in March that he wasn’t interested in purchasing Nine’s radio assets, the publication now understands media associates have since been informed that he’d consider making a play for the business “at the right price.”

Asked for its response, Nine Entertainment says it does not comment on speculation.

It’s focus in the period ahead is the sale of Domain, dividend to shareholders, investment in areas of its businesses that support further growth aligned to its strategy.