Credit: Vardan Papikyan via Unsplash https://unsplash.com/@varpap
Nine Entertainment is getting plenty of interest from potential buyers for its radio assets.
However, the group is undecided whether to sell or to use some of the proceeds from the sale of its Domain stake to buy more media assets.
“We have had a number of unsolicited inquiries about our radio business,” Nine CEO Matt Stanton told staff.
“Contrary to what has been in the press, because some of that stuff is completely wrong, but we have had a number of approaches.”
The Australian reported last month that Nine was looking at selling its radio network, including Sydney’s 2GB and Melbourne’s 3AW.
And “several interested” bidders were due to make formal offers for the asset in coming weeks.
Nine has now confirmed it is reviewing its radio assets.
“We have decided to do a review of the audio business. So what does that mean?” Stanton told Nine staff.
“That doesn’t mean we’re going to sell the radio business, per se. We will review all options, which could be continuing to keep radio and investing in it, and maybe investing more in digital. It could be partnering with people, and it could be selling the business.”
In a statement, Nine said the "comprehensive strategic review" is aimed at identifying the best strategic approach that will unlock ongoing growth in audio.
"This is a genuine strategic review, with all options on the table," Nine said. "In the meantime, it is business as usual across our audio brands delivering compelling storytelling, quality news and program experiences.”
Nine’s total audio revenue was down 2% to $101.2 million in the year to June, with a flat metro linear radio ad market across the year and a slight decline in share.
This was partially offset by Nine’s 31% growth in digital audio revenue.
Nine earlier this year announced a new commercial structure for its audio business with an increased focus on direct sales.
Brian Gallagher, the now former chair of Boomtown and former chief sales officer at broadcaster SCA, in July took up the role of commercial director - audio at Nine.
A slide from Nine' 2025 results presentation:
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