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Nine sells off iconic assets for $56 million
['Jan']
9News
Nine Entertainment has sold its broadcast radio assets, including the top-rating talkback stations 2GB and 3AW, to Australian publican Arthur Laundy and his family for $56 million.
Nine, which is the publisher of this website, told shareholders that the sale to the Laundy Family Office is expected to be completed by the end of June this year and that Nine will remain a long-term partner of the radio stations.
R EAD MORE: Australian government 'monitoring' Nipah virus closelyPublican Arthur Laundy and his family are purchasing the Nine Radio business.
These transactions will create a more efficient, higher-growth, and digitally powered Nine Group for our consumers, advertisers, shareholders and people," he said.
"This positions Nine well for the future, enabling the group to withstand industry disruption and deliver long-term sustainable value to our shareholders."