Is Nine Radio on the Laundy list?

Arthur Laundy. Image: LinkedIn

UPDATE: $56 million sale price revealed.

We’re in the home stretch and, in the tradition of history’s most memorable races, a smoky has emerged – seemingly from out of nowhere – in the quest for Nine Entertainment’s national radio network.

This morning (Friday, January 30, Nine Entertainment) CEO Matt Stanton is expected to announce the sale of Nine’s radio assets 2GB Sydney, 3AW Melbourne, 4BC Brisbane and 6PR Perth.

Latest media reports suggest the buyer is a consortium funded by 84 year-old billionaire pub owner Arthur Laundy.

According to the Australian Financial Review (subscription required), a consortium led by John Singleton is believed to have submitted a bid for the network, along with Craig Hutchison’s Sports Entertainment Group and Australian Digital Holdings.

Up until this week, the bookies had Hutchy as the likely successful bidder.

The Australian (subscription required) reports that Nine staff have been invited to a series of meetings today, around the implications of the sale.