MediaWorks Buys Up Big in NZ
While NZME paid a record $7.8 million for a Christchurch License yesterday, MediaWorks has secured 27 new licenses around New Zealand.
With that, they will now take their George FM brand nationwide and also extend the MAI FM footprint into 12 more markets across the country.
MediaWorks Group CEO, Mark Weldon says the result is a game changer for the commercial radio market.
“There are three key planks to our growth strategy. Securing these frequencies means George FM will be broadcast in Wellington, Palmerston North and Dunedin as well as Auckland. Mai FM will become the only nationwide Hip Hop and R&B radio station.
“We have acquired a new National radio network, and will launch a new station on those frequencies in 2015.”
MediaWorks spent $7.4 Million NZ to secure the 27 frequencies in an auction carried out by The Ministry of Business, Innovation and Employment. The licences last until 2031.
MediaWorks Radio CEO Wendy Palmer says: “This is a spectacular result, and enables us to further extend the reach of our radio brands for the benefit of both listeners and advertisers.
“I want to acknowledge the excellent job done by the project team who worked together seamlessly across the business to deliver a winning outcome.”
George FM is a dance and electronic music brand with threads of house, hip-hop, drum and bass, funk, soul, reggae and dubstep. Mai FM is MediaWorks' Hip Hop and RnB network brand.