Nine Entertainment is reportedly looking at selling its radio network, including Sydney’s 2GB and Melbourne’s 3AW.
The Australian says “several interested” bidders were due to make formal offers for the asset in coming weeks.
“Sources claim Nine has already received at least four approaches for the radio network,” the Australian said.
Nine, which is in the process of finalising the sale of its 60% stake in online real estate classified business Domain, has declined to comment.
Brian Gallagher, the former chair of Boomtown and former chief sales officer at broadcaster SCA, in July took up the role of commercial director - audio at Nine.
In the media group's latest trading update, March quarter broadcast advertising revenue was weaker than expectations with a decline in the low double digits (%). Digital audio revenue grew by more than 20%.
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