Fairfax and McQuarie eyeing radio market carve up
Australian media groups Fairfax Radio and Macquarie Radio Network are understood to be locked in talks to determine the controlling interest in a proposed merger.
Neither Fairfax nor McQuarie have commented
National media ownership rules allow only two stations to be held in any one market, which may force the merged stations to ditch some of their coverage in New South Wales, where the two groups currently run three stations between them.
It is understood Fairfax are seeking control of the merged group’s assets, shareholdings and management.
Macquarie Radio executive chairman Russell Tate declined to comment yesterday.
“Any merger of the two companies could capture millions of dollars in synergies, and allow the newly created company to offer the leading talkback radio program in every mainland capital,” The Australian newspaper reported.
Similar merger talks collapsed without reaching an agreement last year.
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