Nine has won the battle for Macquarie Media

By Chris Pash | 8 October 2019

Nine has won its battle for 100% control of radio network Macquarie Media.

The media company has more than the 90% of acceptances for its takeover, meaning it can compulsorily acquire the rest.

Investment banker Mark Carnegie sold his 3.6% after adman John SIngleton agreed to sell his 32.4%.

Nine moved to acquire the remaining 45.5% stake in the network, which includes 2GB, 3AW, 4BC, 6PR and Macquarie Sports Radio, at $1.46 cash per share

Nine says the acquisition consolidates Nine’s position as the leading provider of news and current affairs content across all of the key platforms – television, digital, print and now radio. 

The acquisition is being financed from cash reserves and existing debt facilities. 

 

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