Media company Nine Entertainment has agreed to buy outdoor advertising business QMS Media for $850 million from Quadrant Private Equity and confirmed the sale of its radio stations to the billionaire Laundy family. The 2GB, 3AW, 4BC, 6PR, 2UE, Magic1278 and 4BH radio stations will be sold for $56 million, with the sale expected to complete on June 30 subject to ACCC approval. Get the first look at the digital newspaper, curated daily stories and breaking headlines delivered to your inbox. As a result of the tax benefits, it said its net investments will be around $601 million for a QMS business forecast to generate EBITDA (operating income) of $105 million in 2026. However, Nine also warned investors that its dividends in financial years 2026 and 2027 are now expected to be unfranked as a result of the tax losses being recognised through the deals.