Sale of 2CH now in the hands of Deloitte

Macquarie Media has confirmed that 2CH has not been sold within the timeframe and enforcable undertakings it made to ACMA, and  Deloitte has now been appointed to sell the radio station.

MRN released a statement to the market this afternoon confirming that ACMA had rejected two offers prior to the revised September 30 deadline. The onging 2CH must be sold to remedy the temporary breach of the “two to a market” rule.

Macquarie Media Chairman Russell Tate said: “We remain confident of selling 2CH, consistent with our prior disclosed expectations and obligations under the enforceable undertaking. Interested parties should contact Mr Strawbridge of Deloitte direct to engage in the sale process”.