Fairfax say radio growth on the way

Staff Writer
Fairfax Radio star Neil Mitchell from 3AW

Fairfax Media has released its financial report for FY15 today with revenues and earnings for the consolidated group somewhat flat.

The radio division reported revenue growth, with flat earnings, although there have been (as expected and forecast) significant one-off costs associated with the Macquarie/Fairfax marriage.

Fairfax Chairman Roger Corbett has said:

“In December 2014 we announced the creation of a stronger national radio network through the merger of Fairfax Radio Network’s 3AW, 2UE, 4BC and 6PR stations with Macquarie Radio Network’s 2GB.

The merger unlocks significant value and advertiser opportunity and brings together the leading news, talk and sport stations in Sydney and Melbourne.

Further significant value was realised through Fairfax’s sale of Perth music station 96FM for cash consideration of approximately $78 million, which was a compelling offer.”

The results for the Fairfax radio division are below:

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