Nine has this morning locked in one of its most significant portfolio reshuffles in years, confirming a long expected radio exit, a surprise regional television move and a major bet on digital outdoor advertising.
In an announcement to the ASX this morning, Nine detailed a sweeping repositioning of its asset portfolio, confirming the expected sale of its broadcast radio division, the conversion of regional broadcaster NBN Television into an affiliate owned and operated by long time partner WIN Network, and the acquisition of digital outdoor advertising company QMS Media.
The radio divestment brings to an end Nine’s ownership of major talkback stations including 2GB, 3AW, 4BC and 6PR, assets largely assembled through the Fairfax Media merger in 2018. The move had been widely anticipated after Nine confirmed last year it had received multiple unsolicited approaches for the radio business.
– Advertisement –
The stations will be acquired by the Laundy Family Office, after TV Blackbox reported yesterday that Arthur Laundy had emerged as the likely buyer, the private investment vehicle of the veteran publican and hotelier, at an enterprise value of $56 million. The transaction is expected to deliver a specific item gain of around $10 million in Nine’s FY26 results.
Nine said the sale will be accompanied by an ongoing strategic partnership with the Laundy Family Office, including collaboration across news content, advertising and the promotion of Stan Sport through Laundy venues. In a media release issued today, Nine CEO Matt Stanton sought to reassure staff, describing the deal as a positive outcome for radio employees as the new owners look to invest in and grow the brands.
Craig Laundy, a director of the Laundy Family Office and son of veteran publican Arthur Laundy, who previously served as a federal MP before returning to the family business, said the group was committed to backing management and station staff as it takes control of the network, describing talkback radio as a real time reflection of the “pub test”.
“The Laundy Family is backing management and all employees to work with us over the coming years to grow this business.”
Craig Laundy
The most unexpected element of the announcement is Nine’s decision to offload NBN, a long-established regional broadcaster whose NBN News service has been a dominant ratings force across Northern NSW, converting the Northern NSW station from a wholly owned business into a WIN Network operated affiliate
Nine will receive $14.8 million in cash consideration from WIN, alongside approximately $95 million in associated cash tax benefits, with the transaction expected to have a pro forma EBITDA impact of around $7 million in FY26, subject to shareholder and regulatory approval.
WIN Network owner Bruce Gordon, whose company will now take ownership of NBN, in a move that emerged as the biggest surprise in Nine’s sweeping media portfolio shake-up (image – The Australian)
The move runs counter to the broader trend of consolidation seen across regional television in recent years, with Prime Media previously absorbed into Seven, Southern Cross Austereo exiting regional television before later acquiring Seven, and Network 10 bringing the majority of its regional licences under direct ownership last year.
– Advertisement –
Against that backdrop, Nine’s decision to relinquish ownership of NBN appears aimed at reducing capital intensity and operational exposure, while maintaining distribution through its long established affiliate model with WIN across most regional markets.
The NBN deal also deepens Nine’s longstanding relationship with WIN owner Bruce Gordon, one of Nine’s largest shareholders, adding an extra layer of intrigue to a transaction that few in the market had anticipated.
The group’s $850 million acquisition of QMS represents the largest single transaction in the restructure and follows Nine’s stated intention to rebalance towards higher growth digital businesses.
The deal significantly expands Nine’s out of home footprint and is expected to strengthen its cross platform advertising proposition across broadcast, streaming, publishing and outdoor, with digital growth assets forecast to contribute more than 60 per cent of group revenue by FY27.
Nine Group CEO Matt Stanton, who says the company’s latest deals mark a critical step in reshaping the group towards a more digitally focused future (image – SMH)
Nine Group CEO Matt Stanton said the combined transactions represent a major step in the company’s long term strategy, positioning the group to better withstand industry disruption while sharpening its focus on digital growth.
“These transactions will create a more efficient, higher growth, and digitally powered Nine Group for our consumers, advertisers, shareholders and people.”
All three transactions are expected to complete before 30 June 2026, subject to regulatory and shareholder approvals, and together represent a tightly linked financial reset following Nine’s exit from Domain last year.
The combined deals deliver more than $217 million in cash proceeds and tax benefits, offsetting capital gains liabilities while positioning the group for low double digit earnings accretion once full cost synergies are realised.
– Advertisement –
It now remains to be seen what changes, if any, WIN will make to NBN’s on-air identity and local news offering once the transition is complete, including whether the long-running NBN News brand and its flagship 6.00pm bulletin will continue in their current form.
*This article updates
– Advertisement –
