Is Lachlan selling Nova Entertainment?

Staff Writer

Is Nova Entertainment for sale?

The Sydney Morning Herald has speculated it might be.

“Leading investment banks have sounded out interest among media companies for Lachlan Murdoch's radio business,” the publication said.

The alleged move comes after the News Corp heir recently became Co-chairman of his dad’s company.

According to the SMH: “Bankers have approached at least one media company in recent months in the hope of finding a buyer for the operator of the Nova and smoothfm networks.”

“It is thought that banks have not been mandated at this stage and there is no guarantee of a sale.”

So how much would one buy Nova Entertainment for?

That figure is believed to be at least $400 million.

Nova Entertainment reported a net profit of more than $58 million last year.


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