Long time listeners. First time owners: Laundy family’s message to Nine Radio staff

Arthur Laundy (middle) with son Stuart Laundy, daughter Danielle Richardson, daughter Justine Laundy and sonCraig Laundy. Image credit: Richard Dobson.

As the the Laundy family prepares to formally take ownership of Nine’s radio assets, billionaire businessman Arthur Laundy and his son Craig have introduced themselves to staff.

Nine Entertainment finalised the sale this morning, with the Laundy Family Office to take the reins of 2GB, 3AW, 4BC, 2UE, 6PR, Magic 1278 and 4BH on a cash and debt free enterprise value of $56 million.

In their message to staff on behalf of the family, Arthur and Craig said “Today we are extremely excited to announce that we have reached agreement to acquire the Nine Radio business.”

“Our family business has always been guided by one core principle; our staff are, and will always be our most valuable asset. We cannot open and close the doors of our venues without them.”

“Our purchase and operation of Nine Radio will be no different – you are our most valuable asset.”

“We look forward to introducing ourselves as we make our way around to the network’s stations over the coming weeks and months.”

“The Laundy Family is backing management and all employees to work with us over the coming years to grow this business. We want you to help us continue the important role OUR stations play in the life of every-day Australians.”

The Laundy family has been in the hotel industry for four generations.

In 1969 tragedy struck – Arthur Senior died in a light plane crash.

Left to run the family’s two hotels, Arthur Junior stepped up to the plate, with he and his wife Margaret going on to mould what would become their empire.

The Laundy family sees strong similarities between hotels and talkback radio.

“In public bars, we chat with our customers about the issues of the day. A lot of the time, the thoughts in the minds of our customers are shaped by the work you do in radio.. and vice versa. Many of our patrons call the open line using the talkback catch-cry “long time listener, first time caller”. They’re also the best arbiters of what passes ‘The Pub Test.’”

“We see our customers as your listeners. It’s this mindset we hope will allow us to work with you for years to come, to ensure OUR listeners and customers continue to be the centre of everything we do.”

“We would like to thank Matt Stanton for the good faith he has shown in the negotiations that have been conducted. We look forward to enjoying a strong strategic and commercial partnership with Matt and Nine into the future.”

“We would also like to thank the Nine Radio senior management team, led by Tom Malone, for their help in understanding the business throughout the negotiations. We are excited about working with them to shape and grow this business into the future.”

“At the end of the day, not-unlike those listeners who use the talkback catchcry, we share the same love of radio, with one particular difference: We are “long time listeners, first time owners!”