Macquarie Media Secures a Six Month Reprieve

Macquarie Media has secured an extension on the forced sale of one of their three AM licenses in Sydney.

The Australian Communications and Media Authority has given an extension of six months to 30 September this year.

It has been reported that ACMA has issued a statement saying: “The Australian Communications and Media Authority approved an extension of six months – to 30 September 2016 – for Macquarie Media Limited (MML) and Fairfax Media Limited (Fairfax) to remedy the temporary breach of the ‘two-to-a-market’ limit for commercial radio licences in the Sydney RA1 license area.”.

Back in April last year ACMA has approved a temporary breach of the control rules in the Broadcasting Services Act 1992 (BSA) of two-to-a-market. The plan being Macquarie Media would then off load 2CH by March 31 this year. While a couple of groups have been rumoured to have been circling 2CH, none have signed on for Macquarie’s asking price as of yet.