Nine sells radio stations including 2GB and 3AW to Sydney pub baron Arthur Laundy | Australia news

The country’s largest media company, Nine Entertainment, sold talkback radio stations to a Sydney pub baron for $56 million and bought outdoor advertising company QMS Media for $850 million; This was a massive upheaval in Australia’s media landscape.

Nine Radio, which owns 2GB, 3AW, 4BC, 6PR, 2UE, Magic1278 and 4BH, has withdrawn from the sale due to declining talk radio profits and an increasingly aging audience.

In a surprise move, the network was bought by 85-year-old billionaire Sydney publican Arthur Laundy, who took over two pubs in 1969 and turned them into a group of 40 venues valued at $1.75 billion. According to AFR’s 2025 Rich List.

Nine has also converted its wholly owned regional television station NBN in northern NSW into an affiliate station.

QMS is an outdoor advertising company with a national network of digital billboards in locations such as Sydney bus stops.

Nine’s restructuring comes after the company sold its stake in property portal Domain for $1.4 billion.

“Today’s announcements mark a critical milestone in our Nine2028 transformation,” said Nine CEO Matt Stanton.

“These transactions will create a more efficient, faster-growing and digitally supported Nine Group for our consumers, advertisers, shareholders and employees.

“This positions Nine well for the future, ensuring the group can withstand industry disruptions and deliver long-term sustainable value to our shareholders.”

Nine is the publisher of the Australian Financial Review, Sydney Morning Herald and The Age magazines and owner of Channel Nine.

More details coming soon…