In what chief executive Matt Stanton is calling a transformation to a “digitally powered” Nine Group, the publisher/broadcaster has sold its Australian radio stations and bought an outdoor company.
It has also sold its NBN Television northern NSW regional subsidiary to WIN, which will operate it as an affiliate.
Stanton says the change offers advertisers a unique cross-platform digital media proposition, combining Nine’s premium assets in streaming and broadcast, and publishing, with QMS’s outdoor assets.
“The transactions will create a more efficient, higher-growth and digitally powered Nine Group for our consumers, advertisers, shareholders and people. This positions Nine well for the future, enabling the group to withstand industry disruption and deliver long-term sustainable value to our shareholders,” he said.
Nine will pay Quadrant Private Equity $850 million for QMS and expects to complete before June 30.
Nine expects outdoor to “remain resilient to the impact of the global digital platforms and AI, both of which represent challenges to other segments of the media marketplace”. It said most of QMS’s Australian sites are “higher yielding and more flexible” digital formats.
Stanton says the QMS network will also provide Nine with a branded platform to support key national news and sporting “moments” and serve as a public service utility in times of emergency or community need.
Nine has sold its radio assets – 2GB, 3AW, 4BC, 6PR, 2UE, Magic1278 and 4BH – to the Laundy Family Office, headed by “publican” Arthur Laundy (pictured), on a cash and debt free enterprise value of $56 million. Laundy is expected continue the relationship with Nine, making use of its journalists and featuring Stan Sport through its venues.