Nine Entertainment has sold its radio division for just $56 million, marking a dramatic fall in value as the media giant pivots away from broadcast radio and doubles down on outdoor advertising with an $850 million acquisition of QMS.
The radio network has been acquired by Arthur Laundy, through the Laundy Family Office. The deal includes some of Australia’s most prominent talkback stations, such as 2GB and 3AW, along with high-profile presenters including Ben Fordham and Tom Elliott.
Sharp Decline in Radio Valuation
The $56m sale price is a fraction of the $275m valuation placed on the business just seven years ago, when Nine took full ownership of what was then known as Macquarie Media. Industry analysts say the steep discount reflects the long-term decline of commercial talk radio as audiences migrate to digital platforms.
Several high-profile departures in recent years—including Ray Hadley and Melbourne ratings leader Neil Mitchell—have also weakened the network’s commercial appeal.
Arthur Laundy, whose estimated net worth is around $1.75 billion, owns more than 40 pubs across NSW and is well known for his conservative media interests.
Nine’s Strategic Shift to Outdoor Advertising
The radio sale coincides with Nine’s aggressive expansion into outdoor advertising, highlighted by its $850m purchase of QMS, one of Australia’s largest digital billboard operators, from private equity firm Quadrant.
Nine also announced the sale of its regional television station NBN Television to WIN Television for $14.8m, further signalling its retreat from traditional broadcast assets.
Nine chief executive Matt Stanton said the reshuffle would create a “more efficient, higher-growth, and digitally powered” media business.
Industry Reaction and Financial Impact
Veteran media analyst Peter Cox said Nine’s move directly contradicts the optimism around radio expressed by rival broadcasters.
“While others are saying radio still has a future, Nine is effectively saying the growth is in digital billboards, not microphones,” he said.
Financially, Nine is expected to net about $50m in cash from the sale after costs and debt adjustments. Due to earlier write-downs, the company will book a modest accounting gain of around $10m, alongside a potential $50m tax benefit.
Despite selling the network, Nine said it will maintain commercial and editorial collaboration with the Laundy-owned stations, including shared content, advertising partnerships, and promotion of Stan Sport through Laundy venues.
