Singo slams Fairfax

Staff Writer

John Singleton, the majority shareholder in the Macquarie Radio Network, has appeared on Alan Jones' 2GB breakfast show and launched a tirade against Fairfax.

Singo said the $200 million joint venture between Macquarie Radio Network and Fairfax Radio's stations was off, and it had nothing to do with Alan Jones and Ray Hadley, as reported yesterday.

"There have been a lot of discussions over a number of years on all this, but there will be no more. There have been lies and deceit; there has been abuse and false accusations directed at us — and there is not going to be a deal with Fairfax Media.

"They (Fairfax) are selling all their future assets to prop up their dead assets. You have to judge things on what they are worth. 2UE is now worse than it's ever been. They have no audience in Sydney."

Singleton rejected the allegation that Jones and Hadley didn't want to be part of the proposed merger.

"Neither Alan Jones nor Ray Hadley have been consulted on this matter," he said, "I have not discussed it with them, although as an act of goodwill I would do so if I were to buy or sell radio assets they're part of."

He went on to say: "There are third-rate w-nkers in charge of destroying Fairfax. I'm going to watch it (Fairfax) die slowly. I'll wait til they are absolutely f . . ked and buy it off the receivers."

Hear the full interview…..—john-singleton.mp3
or hear it here

A Fairfax Media spokesman has told the Sydney Morning Herald:

"Anyone who had the misfortune of hearing John Singleton's deluded and self-indulgent sprays on 2GB and elsewhere this morning can only feel sorry for the man.

"Amongst the myriad nonsense and highly defamatory remarks, Mr Singleton also failed to mention that his fellow shareholder and Macquarie Radio deal maker, Mark Carnegie, refused to facilitate meetings with Mr Jones and Mr Hadley and walked out of a meeting with Fairfax representatives.

"Mr Hadley and Mr Jones are the key assets of any value in the Macquarie Radio network and without an opportunity to meet with them there was no point in Fairfax Media pursuing talks with the highly volatile and emotional organisation.

"The fact remains the Directors of Fairfax will not enter into any transaction that they do not believe is in the best interests of Fairfax shareholders."

Read more here.

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