Credit: Eric Nopanen via Unsplash
The Laundy Family, the hotel owning new owners of Nine’s radio network, describe themselves as listeners, drawing a link to talk back radio and the pubs they own.
Banter and chat in bars chew on the issues of the day, much the same way as talk back radio works.
Nine is selling broadcast radio assets - 2GB, 3AW, 4BC, 6PR, 2UE, Magic1278 and 4BH - to the Laundy Family Office for $56 million.
And Nine is getting into outdoor media with the purchase of QMS.
Craig Laundy said the members of the Laundy Family Office say they look forward to introducing themselves as they make their way around to the network’s stations over the coming weeks and months.
“The Laundy Family is backing management and all employees to work with us over the coming years to grow this business,” he said.
“We want you to help us continue the important role the stations play in the life of every-day Australians.
“We see strong similarities between hotels and talk back radio. Patrons in our venues are at the centre of everything we do and we will have that same ethos with our listeners.
“In public bars, we chat with our customers about the issues of the day. A lot of the time, the thoughts in the minds of our customers are shaped by what is said on the radio. Many of our patrons call the open lines and there are no better arbiters of what passes ‘The Pub Test’.
“We would like to thank Nine CEO Matt Stanton for the good faith he has shown in the negotiations that have been conducted. We look forward to enjoying a strong strategic and commercial partnership with Matt and Nine into the future.
“We would also like to thank the Nine Radio senior management team, led by Tom Malone, for their help in understanding the business throughout the negotiations. We are excited about working with them to shape and grow this business into the future.”
Nine said Laundy is expected to remain a long-term partner, with plans to utilise Nine News journalists on radio, showcase Stan Sport through Laundy venues, provide promotion and advertising sales collaboration, as well as increased advertising spend.
Nine’s focus now is the combination of outdoor, streaming and broadcast, and publishing.
“Nine’s multi-platform scale and relationships with key agencies and clients is expected to provide QMS with the ability to access incremental advertising dollars through combined agency deals and bundling, as well as enhanced access to Nine’s direct clients,” said Nine.
The radio network sale is expected to complete before June 30.
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