Nine’s radio assets sold to Laundy consortium for $56 million

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

The winning consortium is headed up by 84 year old billionaire pub owner Arthur Laundy.

The sale is expected to be completed by June 30, 2026.

Up until this week, Craig Hutchison’s Sports Entertainment Group had been considered the frontrunner.

In making the ASX announcement today, Nine flagged a strategic repositioning of its asset portfolio to drive long-term shareholder value.

The restructure includes the acquisition of digital outdoor media platform QMS Media.

Nine says it has also finalised an agreement to convert NBN Television from a wholly owned business to an affiliate, to be owned and operated by Nine’s regional partner WIN.

 “Together, the sale of Nine Radio and the restructuring of NBN will result in $217 million of cash proceeds to Nine.”

Nine Radio Managing Director Tom Malone said to staff:

“As you now know, Matt Stanton has today announced that Nine has reached an agreement to sell the Radio business to the Laundy family. This is a great outcome for the Radio business and for our people. The Laundy family value their staff as their most valuable asset, and we will be no different.”

“Thank you for your professionalism and resilience over the past year or so with the continuous speculation about ownership, particularly the past four months, as we conducted the strategic review process. Change and uncertainty is unsettling, but your commitment to delivering outstanding live and local content, and serving our audiences in extreme moments of need has never wavered. That has been noticed, valued and respected by me, Nine and the Laundy family.”

“During the sale process, which attracted strong interest from several parties, the Laundy family was a standout. Matt and I have had lengthy discussions with the family, led by Craig Laundy. Craig will be familiar to many of you. As well as being a former Federal MP, he’s been a regular guest on our programs. Many of you at 2GB in particular have met Craig, his father Arthur, and other members of the Laundy family at various OBs.”

“They are prominent advertisers who have seen the results of our work up close. They have made the decision to invest in us because they understand the power of talkback radio. They see enormous potential in our teams, our audiences and our heritage. The Laundys are investing in radio for the long term and I understand their ambition. It’s great news for radio!”

“In the coming weeks, we will be working with Craig on the formal transition of ownership, which we expect to take place in the April-June window. For now, it is very much business as usual, and our focus remains on doing what we do best: producing compelling content, for distribution across radio, streaming and podcasts, thereby creating powerful marketing platforms for our advertising partners.”

“In the meantime, expect to see Arthur, Craig, and the Laundy family around the studios and offices. They are a family business that puts people and customers first. They understand that good Radio is the product of many people working together in a mix of creativity, consistency and commitment.” 

 “Thank you for everything you bring to Radio. I’m so proud of this team, excited by what’s ahead, and confident about this next chapter for our business.”