Nine Entertainment has sold its radio stations to the Laundy family for $56m. Sydney pub baron Arthur Laundy has shelled out $56m for Nine’s talkback radio stations. The announcement caught commentators by surprise, with media players Craig Hutchison, who is building a sport media empire, and adman John Singleton, a former part-owner of the Macquarie Media radio network. “The Laundy family value their staff as their most valuable asset, and we will be no different. According to the The Australian, Hutchison’s Sports Entertainment Group (SEG) had been “odds-on” favourites to pick up Nine’s radio asset.